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Balance of Payments and International Investment Position: Year ended 31 March 2012 (corrected)
Embargoed until 03:00pm  –  07 March 2013
Corrections

Corrections: 7 March 2013,  15 October 2012

7 March 2013

We have made several changes to some of the figures published in this release on 27 September 2012.

Some errors were discovered in the published statistics for stocks and flows of direct investment, specifically for the economic country groupings: APEC, ASEAN, EU, and OECD. Values from the year ended March 2001 to the year ended March 2012 were understated or overstated to varying degrees. From the original information release, tables 13 and 17 have been corrected, and are available from the 'Downloads' box. The tables below give a further breakdown of the corrections, going back to March 2001.

One graph in the commentary of this information release, 'Stock of foreign direct investment in New Zealand by region', has been corrected.

The media release that accompanied the original release is refreshed, with corrections to three of the quoted figures. These figures refer to foreign direct investment with the EU and ASEAN.

The errors were discovered after we conducted internal data analysis and found some inconsistencies. We have since amended our data checking method for this particular information. We sincerely regret any inconvenience these errors may have caused.

The corrected data is also now available on Infoshare.

 Changes to table 13, Stock of direct investment by country at 31 March, NZ$(million)

   Series ref: IIPA

At 31 March

 2007

 2008

 2009

 2010

 2011

2012 

 New Zealand's direct investment abroad

OECD  Released 27/9/12   S5AAA10007

 15,024

19,183 

 20,597

 16,788

 19,329

 19,166

Corrected 7/3/13   S5AAA10007

 15,076

19,242

 20,668

 16,789

 19,291

 19,188

Difference   

 52

 59

 71

 1

 -38

 22

 Foreign direct investment in New Zealand

APEC  Released 27/9/12   S5ALA10009

 67,732

 69,309

 73,243

 69,992

 71,213

 75,517

Corrected 7/3/13   S5ALA10009

 65,839

 67,023

 67,343

 65,334

 68,774

 72,847

Difference   

 -1,893

 -2,286

 -5,900

 -4,588

 -2,439

 -2,670

ASEAN  Released 27/9/12   S5ALA10008

 2,139

 2,626

 2,982

 1,939

 2,580

 2,983

Corrected 7/3/13   S5ALA10008

 2,083

 2,568

 2,505

 1,879

 2,428

 2,843

Difference   

 -56

 -58

 -477

 -60

 -152

 -140

 EU Released 27/9/12   S5ALA10006

 9,971

 10,725

 10,421

 9,785

 8,771

 8,249

Corrected 7/3/13   S5ALA10006

 9,671

 10,145

 9,176

 9,165

 7,916

 7,561

Difference   

 -300

 -580

 -1,245

 -620

 -855

 688

 OECD Released 27/9/12  S5ALA10007

 70,521

 75,800

 77,791

 75,000

 74,243

 77,671

Corrected 7/3/13   S5ALA10007

 70,274

 75,028

 73,605

 74,218

 73,918

 77,443

Difference  

 -247

 -772

 -4,186

 -782

 -325

 -228

 

Changes to table 17, Flow of direct investment by country at 31 March, NZ$(million)

 

 Series ref: BOPA

Year ended 31 March

 2007

 2008

 2009

 2010

 2011

2012 

New Zealand's direct investment abroad

ASEAN

Released 27/9/12

 S5AD2B10008

 11

 100

 550

 252

 84

 630

Corrected 7/3/13

 S5AD2B10008

 3

 368

 535

 259

 122

 725

Difference

 

 -8

 268

 -15

 7

 38

 -95

Foreign direct investment in New Zealand

ASEAN

Released 27/9/12  

 S5AC2B10008

 24

 400

 -1,080

 -198

 543

 412

Corrected 7/3/13 

 S5AC2B10008

 34

 442

 -1,020

 -223

 543

 406

Difference

 

 10

 -42

 60

 -25

 0

 -6

We also corrected the figures back to the year ended 31 March 2001 on Infoshare. A detailed breakdown is shown below.

 Changes to table 17, back cast 2001–06 , Flow of direct investment by country at 31 March, NZ$(million)

 

 Series ref: BOPA

Year ended 31 March

 2001

 2002

 2003

 2004

 2005

2006 

New Zealand's direct investment abroad

 

ASEAN

Released 27/9/12

 S5AD2B10008

 -166

 -103

 331

 -269

 105

 -166

Corrected 7/3/13

 S5AD2B10008

 -163

 -102

 331

 -271

 138

 -152

Difference

 

 3

 1

 0

 -2

 33

 14

Foreign direct investment in New Zealand

 ASEAN

Released 27/9/12  

 S5AC2B10008

 377

 197

 70

 25        

 154

 18

Corrected 7/3/13 

 S5AC2B10008

 359

 195

 39

 -110

 144

 12

Difference

 -18

 -2

 -31

 -135

 -10

 -6

Changes to table 13, back cast 2001–06, Stock of direct investment by country at 31 March, NZ$(million)

   Series ref: IIPA

At 31 March

 2001

 2002

 2003

 2004

 2005

2006 

 New Zealand's direct investment abroad

 EU Released 27/9/12   S5AAA10006

 908

 642

 420

 565

 278

 1,969

Corrected 7/3/13   S5AAA10006

 908

 645

 423

 571

 277

 1,969

Difference   

 0

 3

 3

 6

 -1

 0

OECD  Released 27/9/12   S5AAA10007

 13,610

 10,278

 10,141

 11,436

 13,158

 13,112

Corrected 7/3/13   S5AAA10007

 13,624

 10,362

 10,212

 11,456

 13,249

 13,154

Difference 

 

 14

 84

 71

 20

 91

 42

 Foreign direct investment in New Zealand

APEC  Released 27/9/12   S5ALA10009

 33,607

 33,736

 37,494

 46,162

 53,047

 60,731

Corrected 7/3/13   S5ALA10009

 31,785

 30,376

 34,023

 44,614

 51,448

 56,907

Difference   

 -1,822

 -3,360

 -3,471

 -1,548

 -1,599

 -3,824

ASEAN  Released 27/9/12   S5ALA10008

 1,115

 1,730

 1,169

 1,140

 1,258

 1,683

Corrected 7/3/13   S5ALA10008

 1,090

 1,227

 961

 1,084

 1,094

 1,521

Difference   

 -25

 -503

 -208

 -56

 -164

 -162

 EU Released 27/9/12   S5ALA10006

 14,545

 11,943

 12,494

 10,992

 11,914

 10,857

Corrected 7/3/13   S5ALA10006

 14,207

 11,233

 11,637

 10,489

 11,621

 10,051

Difference   

 -338

 -710

 -857

 503

 293

 806

 OECD Released 27/9/12  S5ALA10007

 43,611

 42,489

 44,495

 51,234

 58,745

 64,450 

Corrected 7/3/13   S5ALA10007

 42,353

 40,190

 41,764

 50,872

 58,754

 61,786

Difference  

 -1,258

 -2,299

 -2,731

 -362

 9

 -2,664

See Infoshare to access time-series data specific to your needs. For this release, select the following categories from the Infoshare home page:

Subject category: Economic indicators
Group: Balance of Payments 

The time series can be downloaded in Excel or comma delimited format.
More information about Infoshare is on our website at www.stats.govt.nz/about-infoshare.  

15 October 2012

After this release was published on 27 September 2012, we made a correction to historical data in table 7 'Current account income'. Reinvested earnings from New Zealand's direct investment income (series BOPQ.S5AC1B20112) in the year ended March 2009 was previously published as $286 million. This figure has been corrected in the table to be -$34 million.
 
The inconsistency occurred only in table 7, and not in the data available on Infoshare.

We regret any inconvenience caused by this error.

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