Georgia sees FDI down by 6.3% in Q1 2019
By Tea Mariamidze
Wednesday, June 12In quarter 1, 2019, foreign direct investment (FDI) in Georgia amounted to $281.1 million, which is a 6.3% reduction compared to the same period of the previous year.
The information was released by the National Statistics Office of Georgia (Geostat) in its preliminary report.
The agency says that the main reasons for decreasing the FDI included completion of a pipeline project and transferring of ownership in some companies from non-resident to resident units.
Also, the share of FDI by three major economic sectors reached 75.1 percent in Q1 2019. The largest share of FDI was registered in the other community, social and personal service activities sector, reaching $139.8 million in Q1 2019, the financial sector was the second with $42.7 million, followed by the transport sector with $28.6 million.
In addition to this, FDI percentage in major economic sectors in the first quarter of this year looks as follows:
- Other community, social and personal service activities – 49.7%
- Financial sector – 15.2%
- Transport – 10.2%
- Hotels and restaurants – 9.0%
- Manufacturing – 7.5%
- Communications – 3.6%
- Mining – 3%
- Other sectors – 1.7%