Page 33 - GEORptNov21

2020 FDI in Georgia down 57% at $572mn
The rest of the large foreign investor countries were Japan with $24.5mn, followed by Turkey – $21.1mn; Luxembourg – $15.5mn; Switzerland – $11.6mn; Malta – $9.5mn and the Marshall Islands – $7.9mn.
The financial sector received the largest share of FDI at $82.0mn, followed by the energy sector – $65.2mn; manufacturing – $46.5mn; real estate – $19.1mn; health and social work – $5.4mn and agriculture and fishing – $1.3mn.
Foreign direct investment (FDI) in Georgia stood at $572mn in 2020, down 57.2% from 2019, according to final data released by the Georgian National Statistics Office (Geostat) on August 16.
The figure is down 7.3% from the preliminary figure of $616.8mn released in March. Geostat said an adjustment of reinvestments by several enterprises was the reason behind the change.
It added that the key driver of the year-on-year decline was the transfer of several companies from non-resident to resident status, which reduced the value of FDI by $283mn.
According to Geostat, the share of reinvestments in 2020 amounted to 87.5%, or $500.5mn.
In 2020, the largest amount of FDI came from the United Kingdom at $303mn, up from $236.9mn in 2019, followed by the Netherlands with $200.7mn (up from $88.1mn in 2019), the US with $98.4mn (down from $115.6mn a year before), and Turkey with $79mn (down from $174.2mn in 2019).
33 GEORGIA Country Report November 2021 www.intellinews.com