28 Sep 2012

NZ investing more in Southeast Asia

10:16 am on 28 September 2012

Official figures show New Zealand is investing more in Southeast Asia, but Australia remains the biggest market for direct investment.

Statistics New Zealand says New Zealand invested $24.3 million in the year to March, about half of which went to Australia.

And $2.2 billion goes to Southeast Asia, compared to $700 million four years ago.

Investment in Europe has declined in recent years.

But investment by foreigners in New Zealand is much larger, totalling $97.3 billion, with two thirds coming from Australia and the US.

Much of that is held by the major Australian-owned banks.