Foreign Direct Investments Down in Georgia
Tuesday, June 12
Foreign direct investments (FDI) in Georgia amounted to $ 279.3 million in Quarter 1, 2018 which is down by 32.9 percent compared to the preliminary data of Q1 2017.
The information was released by the National Statistics Office of Georgia (Geostat) on June 11.
Geostat says that two main reasons for decreasing the FDI are transferring of ownership in some companies from non-resident to a resident units and reduction of debt liabilities to non-resident direct investors.
The largest foreign direct investment in the first quarter of 2018 was 82.7 million USD from Great Britain. The second place is 51 million dollars Azerbaijan. The third place is China with $ 41.6 million.
The largest foreign direct investment in the first quarter of 2018 was $82.7 million was carried out from Great Britain. Azerbaijan takes the second place with $ 51 million investments. China is on the third place with $ 41.6 million.
Share of FDI by three major economic sectors reached 78.7% in Q1 2018.
The largest share of FDI was allocated in financial sector, reaching $ 110.6 million in Q1 2018. Construction sector was the second place with $ 69.1 million, followed by the manufacturing sector with $ 40.2 million.
Geostat stated the adjusted data will be published on 15 August, 2018.
As for the 2017 FDI, Geostat says the total amount of foreign direct investments in 2017 in Georgia amounted to $1861.9 million dollars. Which was a 16.2% increase compared with the previous year.
Major investor countries in 2017 were the UK (13.4%), Azerbaijan (25.9%) and Turkey (15%).
Last year most investments were made in the transport and communication sector, followed by financial sector.