1350.0 - Australian Economic Indicators, Jul 2001  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 29/06/2001   
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MEDIA RELEASE

June 29, 2001
Embargoed: 11:30 AM (AEST)
87/2001

A quarter of capital expenditure is by foreign-owned businesses

An Australian Bureau of Statistics (ABS) study has shown that 26% of private new capital expenditure in Australia was undertaken by businesses with majority foreign ownership.

Of this capital expenditure by majority foreign-owned businesses, 75% was on equipment, plant and machinery and 25% was on buildings and structures. This compares with investment by Australian owned businesses, where 64% of capital expenditure was on equipment, plant and machinery and 36% on buildings and structures.

This study was undertaken as part of an initiative by the ABS to improve globalisation statistics. The results for the 1998-99 financial year are published as a feature article in Australian Economic Indicators, released today.

The report also shows that for the mining industry, 25% of total new capital expenditure was undertaken by majority foreign-owned businesses, while for the manufacturing industry the figure was 42%.

Businesses whose majority owner was based in the USA contributed 11% of total new capital expenditure, with businesses owned by residents of the EU contributing 10% of the total.

On a State basis, Victoria had the highest proportion of State new capital expenditure by foreign-owned businesses of 31% ($3.6 billion), followed by New South Wales with 27% ($4.0 billion).

Details are in Australian Economic Indicators, July 2001 (ABS Cat. No. 1350.0). If you wish to purchase a copy of this publication contact the ABS Bookshop in your capital city.