Georgia attracts $175 million USD investments in first quarter of 2015

Georgia is continuing to receive financial support through Foreign Direct Investments (FDI); however, the amount of support is decreasing.

Preliminary data released by Geostat, the National Statistics Office of Georgia, noted the number of FDIs in Georgia in the first quarter (Q1) of 2015 amounted to $175 million USD. This was a 34 percent decrease on the same data of 2014.

The number of FDIs in Georgia reached a five-year high in Q1 2014, when it reached $1.27 billion. In 2013 FDI’s amounted to $942 million, in 2012 FDIs reached $912 million, in 2011 FDIs reached $1.1 billion and in 2010 FDIs amounted to $814 million.

The top three countries who had invested heavily in Georgia in Q1 2015 were Azerbaijan, Turkey and Russia, who made up 24 percent, 15 percent and 13 percent of total FDIs respectively.

The latest data showed most FDIs were evident in the transport and communication, construction and mining sectors, noted Geostat. In Q1 2015 transport and communication generated $146 million in FDIs, while Georgia’s construction sector generated $24 million and mining saw $18 million.

Geostat revealed that FDIs stood at a negative figure in the banking sector and amounted to -$18 million.

Geostat noted adjusted data will be published in mid-August. (Agenda.ge)