Statistics of foreign ownership in Australia presented in this section use data from the survey of International Investment to estimate the foreign ownership of equity in Australian enterprises.
Table 30.29 shows that the total value of equity on issue by Australian enterprise groups at 30 June 2003 stood at $1,183b. Of this total, 64% related to shares or equivalent equity interests issued by non-financial corporations. Banks accounted for a further 15% of total equity issued, and the other financial enterprises, including life offices and superannuation funds (but excluding non-bank deposit taking institutions), also accounted for 17%. Lesser amounts were issued by non-bank deposit taking institutions (3% of the total) and the central bank (1%).
Of the total equity on issue by Australian enterprise groups at 30 June 2003, non-residents held equity valued at $359b (30%), while residents held $824b (70%).
Although the proportion of equity held by non-residents has remained relatively stable, the total value of equity on issue has increased by 19%, from $991b to $1,183b, over the period from 30 June 1999 to 30 June 2003.
Analysed by sectoral components, the value of equity on issue by non-financial corporations rose 5% to $755.5b over the period 30 June 1999 to 30 June 2003, while the proportion held by non-residents rose from 34% to almost 38%.
The amount issued by banks has increased by 60% between 30 June 1999 and 30 June 2003, while the proportion of non-resident holdings of the total equity issued by banks has risen from 25% to 28% over the same period.
The value of equity issued by life offices, superannuation funds and other financial enterprises increased by 57% over the period from 30 June 1999 to 30 June 2003, with foreign ownership of this equity falling from 12% at 30 June 1999 to 9% at 30 June 2003.
30.29 FOREIGN OWNERSHIP OF EQUITY(a), By sectoral components - 30 June
|
 | | Units | 1999 | 2000 | 2001 | 2002 | 2003 |
|
| Non-financial corporations(b) | | | | | | |
| Amount issued(c) | $b | 722.4 | 791.8 | 802.7 | 762.2 | 755.5 |
| Amount held by rest of world | $b | 247.4 | 279.0 | 275.3 | 267.4 | 284.2 |
| Proportion of foreign ownership | % | 34.2 | 35.2 | 34.3 | 35.1 | 37.6 |
| Banks | | | | | | |
| Amount issued(c) | $b | 113.3 | 138.6 | 178.2 | 189.7 | 181.2 |
| Amount held by rest of world | $b | 28.4 | 35.9 | 52.8 | 57.4 | 51.0 |
| Proportion of foreign ownership | % | 25.1 | 25.9 | 29.6 | 30.3 | 28.1 |
| Non-bank deposit taking institutions | | | | | | |
| Amount issued(c) | $b | 15.0 | 15.7 | 20.2 | 25.1 | 31.9 |
| Amount held by rest of world | $b | 4.0 | 4.1 | 4.2 | 4.5 | 5.2 |
| Proportion of foreign ownership | % | 26.7 | 26.1 | 20.8 | 17.9 | 16.3 |
| Other financial enterprises(d) | | | | | | |
| Amount issued(c) | $b | 129.4 | 161.8 | 204.0 | 198.8 | 203.1 |
| Amount held by rest of world | $b | 15.1 | 19.3 | 23.1 | 22.5 | 18.7 |
| Proportion of foreign ownership | % | 11.7 | 11.9 | 11.3 | 11.3 | 9.2 |
| Central bank | | | | | | |
| Amount issued(e)(f) | $b | 10.9 | 10.4 | 12.3 | 11.4 | 11.7 |
| Total amount issued | $b | 991.0 | 1,118.3 | 1,217.4 | 1,187.2 | 1,183.4 |
| Total amount held by rest of world | $b | 294.9 | 338.3 | 355.4 | 351.8 | 359.1 |
| Proportion of foreign ownership | % | 29.8 | 30.3 | 29.2 | 29.6 | 30.3 |
|
(a) Equity includes units in trusts.
(b) Includes private non-financial corporations, and Commonwealth, state and local public non-financial corporations.
(c) These estimated market values are considered to be of poor quality. They should be used cautiously.
(d) Includes life offices and superannuation funds, central borrowing authorities, and other financial enterprises.
(e) Net asset values.
(f) There is no foreign ownership in this component. |
| | | | | | | |
| Source: Australian National Accounts: Financial Accounts (5232.0); Balance of Payments and International Investment Position, Australia (5302.0). |
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