Page 31 - GEORptJun22

fluctuations in the Georgian lari (GEL) exchange rate in 2020. The forex injections substituted for the lack of tourism revenue inflows amid the coronavirus crisis. The increase in reserves was made possible by the $1.5bn in foreign debt raised by Georgia during the crisis..
The GEL exchange rate depreciated sharply in 2020 during the first wave of the coronavirus pandemic.
5.2 FDI
Georgia - FDI mn $ 2014 2015 2016 2017 2018 2019 2020 2021*
Total
Q1 Q2 Q3 Q4
Source: Geostat
1 837.0
1 728.8
1 654.0
1 980.8
1 317.1
1 335.8
572.0
1 152.8
331.9
343.4
392.9
413.3
329.3
317.2
171.0
132.5
217.6
493.2
452.6
396.6
408.1
241.2
240.3
305.2
749.5
531.1
507.8
635.4
367.2
403.6
294.8
303.8
538.0
361.0
300.6
535.4
212.4
373.8
-134.2
411.3
Georgia Q4 FDI up to $411.3mn
Georgia FDI
Foreign direct investment in Georgia reached $411.3mn in Q4 2021, a rise from $303.8mn last quarter and a decline of $134.2 a year ago, according to new data released by Geostat.
The United Kingdom was the top contributor to FDI, investing $60.9mn in Q3 2021 (20.4% of the total). Netherlands was second with $59.8mn (20.0%), followed by Czech Republic with $36.0mn (12.0%). The largest share of FDI was registered in the financial sector, with $87.1mn (29.1% of the total). The energy sector was second with $69.3mn (23.2%), followed by the manufacturing sector with $54.8mn (18.3%). Also of note was FDI registering a positive figure in hotels and restaurants in Q3 for the first time in a year with $6.9mn, following catastrophic losses last year which totaled -$249mn.
In Q2 2021, FDI in Georgia totalled $234.2mn, down 2.6% y/y. Reductions in the amount of equity, the transferring of ownership from non-resident to resident units and the payment of debt by several companies were the main reasons for this decline.
Foreign direct investment to Georgia slightly recovered from the
31 GEORGIA Country Report June 2022 www.intellinews.com