WELLINGTON, Dec. 18 (Xinhua) — Foreign direct investment (FDI) to New Zealand hit a record high of 909 million NZ dollars inflow in the September 2019 quarter, according to New Zealand statistics department Stats NZ on Wednesday.
“This included the sale of Westland Dairy, reported publicly earlier this year, as well as banks and other sectors reinvesting their earnings. There was also activity in the telecommunications and forestry industries, however, this had little net impact on the overall flows,” Stats NZ international statistics senior manager Peter Dolan said.
Foreign investors buying New Zealand government bonds contributed 5.8 billion New Zealand dollars of investment capital into New Zealand in the September 2019 quarter, said Stats NZ.
“New Zealand government bonds are usually considered low risk, which can make them an attractive investment for foreign investors,” Dolan said.
Meanwhile, New Zealand’s seasonally adjusted current account balance had a deficit of 2.7 billion NZ dollars in the September 2019 quarter, 339 million NZ dollars wider than the June quarter’s deficit. (1 New Zealand dollar equals 0.66 U.S. dollar)
LINK ORIGINAL: Xinhuanet