BAKU, Azerbaijan, June 10
Total foreign direct investment (FDI) to Georgia amounted to $165.4 million in 1Q2020, which is 41.7 percent less compared to the same period of 2019, Trend reports citing the Georgian National Statistics Service (Geostat)
During the reporting period, several countries that were the largest investors in Georgia withdrew their investments. Azerbaijan is among those countries, which withdrew a total of $13.9 million from Georgia.
The largest volume of foreign direct investment from Georgia was withdrawn to the British Virgin Islands.
The outflow of foreign direct investment from Georgia by British Virgin Islands amounted to $38 million; by Azerbaijan to $13.9 million; Austria to $9.4 million; Cyprus to $3.5 million; Czech Republic to $3 million; United Arab Emirates to $2.8 million; Israel to $1.4 million in 1Q2020.
The share of FDI accounting for three major economic sectors reached 87.5 percent in 1Q2020.
The largest share of FDI was registered in the financial sector, reaching $94.9 million 1Q2020, the real estate sector was the second with $34 million, followed by the hotels and restaurants sector with $15.8 million.
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