Foreign direct investment in Georgia's economy down 40% to $966 mln in 9M

TBILISI. Dec 9 (Interfax) - Foreign direct investment in Georgia's economy fell 40% year-on-year in January-September 2024 to $966 million, national statistics office Geostat said in a report.

Incoming FDI halved to $198 million in Q3 2024.

Overall FDI fell in 9M due mainly to a drop of 69.7% or $272 million from the Netherlands to $115 million. Investment from the United States halved to $74 million, from Turkey it fell 19% to $89 million and from Kazakhstan 20% to $29 million. FDI from the UK grew 42% to $226 million, from Malta it rose 51% to $108 million, from the Czech Republic 50% to $89 million, from Japan 12% to $102 million, from Azerbaijan 4% to $48 million) and from the Marshall Islands 12% to $34 million. Investments from other countries fell 90.9% to $41 million.

FDI in the energy sector in 9M this year totaled $150 million, a decrease of 10% year-on-year, in manufacturing it fell 50% to $147 million, in trade it fell 54% to $126 million, in real estate it rose 8% to $89 million, in transport it fell 42% to $82 million, in ICT it fell 67.7% to $38 million, in administration it rose 2.2-fold to $17 million, in healthcare it rose 24% to $12 million, in education it fell 20% to $11 million, in construction it fell 94% to $4 million and in other sectors it fell 33% to $291 million.

Foreign direct investment in the Georgian economy fell 24% in 2024 to $1.6 billion after rising 60% in 2022 to $2 billion.