Bulk of New Zealand investment abroad targets 5 countries

Almost 70 percent of foreign investment in New Zealand comes from just five countries out of the 99 countries that have individuals or businesses with investments, the government statistics agency announced Friday. At the end of March, foreign investment in New Zealand stood at 315.5 billion NZ dollars (266.63 billion U.S. dollars), with 69 percent coming from Australia, the United Kingdom, the United States, Singapore and Japan, according to Statistics New Zealand. At the same time, New Zealand enterprises had invested 163.9 billion NZ dollars in at least 97 different countries, with 64 percent invested in Australia, the United States, the United Kingdom, Japan and the Netherlands. "Having investment relationships with nearly 100 countries shows just how globally connected New Zealand is. Knowing which countries we invest in and who invests in us plays a key role in informing policy and trade negotiations," balance of payments manager Jason Attewell said in a statement.