Foreign direct investments in Georgia down by 53.7%

Business Materials 9 September 2019 13:40 (UTC +04:00)

Baku, Azerbaijan, September 9

By Tamilla Mammadova – Trend:

Foreign direct investments (FDI) in Georgia amounted to $187 million in the second quarter of 2019, which is down by 53.7 percent from the adjusted data the second quarter of 2018, Trend reports referring to the Georgian National Statistics Office (Geostat).

The main reasons for decreasing the FDI included completion of a pipeline project, reduction in liabilities to non-resident direct investors and reduction of the amount of reinvestment.

The shares of FDI by major foreign direct investor countries were distributed as follows: Netherlands (31.1 percent), Turkey (19.2 percent) and the United States (14.7 percent). Other FDI investor countries include Azerbaijan (8.4 percent), Panama (8.3 percent), Czech Republic (7.9 percent), Korea (7.6 percent) and other countries (2.8 percent).

The share of FDI by three major economic sectors reached 69.6 percent in the second quarter of 2019. The largest share of FDI was registered in the energy sector, reaching $63.7 million, followed by the manufacturing sector with $38.4 million, and the hotels and restaurants sector with $28.1 million ranked third.