UNCTAD (United Nations Conference on Trade and Development) has published a report on the latest investment statistics of five European countries and New Zealand. 1) Despite a global fall in FDI (foreign direct investment) FDI rose in Iceland in 2001. Receipts of capital rose by more than 20% and outward investment by 10%. Iceland's FDI overseas is now 17 times higher than in the previous decade. Iceland's investment overseas is mainly based in developing countries although it had recently started investing in Central and Eastern European countries (CEECs). The United Kingdom is the main beneficiary with 27%, followed by the United States (19%) and Belgium and Luxembourg (17%). Three-quarters of FDI in Iceland still comes from the same three countries, but the United States has now pushed Switzerland into second place (44% of FDI in Iceland came from Switzerland and 20% from the US, while in 2001 36% came from the US and 23% from Switzerland). Belgium and Luxembourg (considered as a single unit) come in third place with a 15% share. 2) In Switzerland both incoming and outgoing FDI more than halved in 2001, but the overall level is still higher than the 1998 level. Developing countries are Switzerland's main partners and it has also increased its investment recently in CEECs. The main foreign investor in Switzerland is the United States and the US is the main recipient of Swiss FDI, receiving 34% of Swiss investment abroad, followed by the Netherlands (24%) and Germany (11%). These three countries together account for 70% of FDI in Switzerland. 3) In New Zealand, FDI reached the same level in 2002 as at the end of the 1980s. Australia is the main investor in New Zealand, accounting for 36% of FDI, followed by the UK (14%) and the US (13%). New Zealand FDI overseas is twice as high as in 1993. More than half (54%) of New Zealand FDI is destined for Australia. 4) Flows to capital to Denmark fell in 2002, reaching levels on a par with the end of the 1990s. The United States has overtaken Sweden as the main investor in Denmark, with the US now accounting for 30% and the Swedes 14%, compared with 13% and 16% respectively in 1996. As for Danish FDI overseas, 19% is invested in Belgium and Luxembourg (which had been absent from the top three in the ten previous years) followed by the United States (17%) and Switzerland (7%). 5) In Bosnia-Herzegovina, despite FDI to the country increasing by 70% in 1999 (the last year for which statistics are available), it is still one of the CEECs with the lowest levels of FDI (150 million dollars). 6) In the Ukraine, FDI receipts rose again in 2000 following a fall in 1999 and stood at 790 million dollars in 2001. This increase means the Ukraine has trebled the 1995 level of FDI.