WELLINGTON, Sept. 26 (Xinhua) -- Foreign direct investment (FDI) from Southeast Asia into New Zealand grew to 4.4 billion NZ dollars (3.63 billion U.S. dollars) in the year ending March, up from 2.8 billion NZ dollars from March last year, the government statistics agency announced Thursday.
The majority of this increase was attributed to FDI from Singapore, according to Statistics New Zealand.
"In the latest year, Singapore replaced Japan as the fourth- largest inward investor to New Zealand," balance of payments manager Jason Attewell said in a statement.
Australia remained the country with the largest direct investment in New Zealand, with stocks valued at 63.3 billion NZ dollars (62 percent of FDI), followed by the United States and Britain.
Meanwhile, New Zealand's outward direct investment fell by 1.7 billion NZ dollars.
"Over the last five years, the value of New Zealand's portfolio investment has increased by almost a third, whereas direct investment into overseas subsidiaries still sits at a very similar level," Attewell said.
Australia remained the largest destination for New Zealand's total investment abroad, with stocks valued at 48.2 billion NZ dollars, or 29 percent of total, followed by the United States and Britain.
In the year ending March, Japan replaced Germany as New Zealand 's fourth largest outward investment partner.