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1301.0 - Year Book Australia, 2002  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/01/2002   
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Contents >> International Accounts and Trade >> Levels of foreign investment in Australia & Aust. investment abroad

In table 30.14, levels of investment are categorised by direction (Australian investment abroad and foreign investment in Australia), type of investment (direct, portfolio, financial derivatives, other and reserve assets) and instrument.

Direct investment is a category of international investment that reflects the objective of obtaining a lasting interest by a resident in one economy in an enterprise in another economy, and implies a significant degree of influence by the investor in the management of the enterprise. A direct investment relationship is established when a direct investor, who is a resident in one economy, holds 10% or more of the ordinary shares or voting stock of an enterprise (direct investment enterprise) in another economy. The portfolio investment category covers investment in equity and debt securities (other than direct investment and reserve assets).

The items Australian investment abroad and Foreign investment in Australia in table 30.14 do not equate with foreign assets and liabilities respectively in table 30.12. The difference is due to netting of assets and liabilities in regard to direct investment, both abroad and in Australia. Claims by direct investment enterprises on their direct investors, separately identified in table 30.14, are netted off in that table against liabilities to direct investors. These items are not netted off in table 30.12

At 30 June 2001, Australian investment abroad totalled $419.3b, up 10% on the level a year earlier. This rise was the net effect of a $5.4b increase in direct investment abroad, an $11.5b increase in portfolio investment assets, a $4.7b increase in financial derivative assets, a $7.6b increase in other investment assets and a $10.0b increase in reserve assets.

Foreign investment in Australia totalled $813.5b at 30 June 2001, up 13% on June 2000. This rise was due to a $14.4b increase in direct investment in Australia, a $60.5b increase in portfolio investment liabilities, a $2.1b increase in financial derivative liabilities and a $14.2b increase in other investment liabilities. The increase in portfolio investment liabilities was attributable to significant increases in both equity ($13.8b) and debt securities ($46.7b).

30.14 LEVELS OF AUSTRALIAN INVESTMENT ABROAD AND FOREIGN INVESTMENT IN AUSTRALIA - At 30 June

1996

$m
1997

$m
1998

$m
1999

$m
2000

$m
2001

$m

Levels of Australian investment abroad
-185,991
-221,545
-290,293
-304,050
-380,106
-419,318
Direct investment abroad(a)
-74,156
-88,999
-125,580
-125,975
-174,109
-179,545
Equity capital and reinvested earnings
-74,260
-87,860
-124,085
-125,462
-175,993
-180,733
Other capital
104
-1,139
-1,494
-513
1,885
1,188
- Claims on affiliated enterprises
-3,541
-4,620
-5,050
-5,556
-6,407
-8,790
- Liabilities to affiliated enterprises
3,645
3,481
3,555
5,044
8,292
9,978
Portfolio investment assets
-49,560
-61,164
-71,962
-81,709
-100,743
-112,206
- Equity securities
-37,466
-47,691
-56,254
-63,440
-82,295
-89,584
- Debt securities
-12,094
-13,474
-15,708
-18,269
-18,448
-22,622
Financial derivative assets
-10,179
-9,265
-14,357
-15,529
-18,833
-23,551
Other investment assets
-33,036
-39,326
-54,134
-56,883
-58,474
-66,065
- Trade credits
-6,052
-8,188
-9,658
-10,084
-9,862
-9,413
- Loans and other assets
-23,584
-26,293
-37,427
-39,568
-41,736
-47,009
- Currency and deposits
-3,400
-4,844
-7,049
-7,231
-6,876
-9,642
Reserve assets
-19,060
-22,791
-24,260
-23,954
-27,948
-37,951
Levels of foreign investment in Australia
461,302
511,700
587,231
629,421
722,250
813,456
Direct investment in Australia(b)
140,001
150,827
162,371
177,754
199,399
213,760
Equity capital and reinvested earnings
119,918
130,190
138,943
156,182
175,423
186,735
Other capital
20,082
20,637
23,428
21,572
23,976
27,025
- Claims on direct investors
-3,751
-4,743
-5,680
-6,847
-7,733
-10,663
- Liabilities to direct investors
23,834
25,380
29,107
28,419
31,709
37,688
Portfolio investment liabilities
255,191
289,182
332,038
345,621
396,270
456,781
- Equity securities
73,247
86,888
110,552
132,514
152,938
166,768
- Debt securities
181,944
202,294
221,485
213,106
243,332
290,013
Financial derivative liabilities
9,551
10,221
15,040
17,826
21,432
23,529
Other investment liabilities
56,559
61,470
77,783
88,220
105,149
119,386
- Trade credits
5,822
5,974
7,221
7,762
7,452
7,023
- Loans
31,715
31,632
34,144
40,586
53,497
51,574
- Currency and deposits
17,146
21,542
33,356
35,712
39,835
56,071
- Other liabilities
1,875
2,322
3,061
4,161
4,365
4,718

(a) Net direct investment abroad, after deduction of liabilities to direct investment enterprises abroad.
(b) Net direct investment in Australia, after deduction of claims of Australian direct investment enterprises on direct investors.

Source: Balance of Payments and International Investment Position, Australia (5302.0).


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