13 Mar 2014 14:00

Georgia sees foreign direct investment outflows rise 75% in 2013

TBILISI. March 13 (Interfax) - The outflow of foreign direct investment (FDI) from Georgia totaled $908 million in 2013, 75.3% more than in 2012, the National Statistics Office said.

Cyprus accounted for $102.4 million in FDI outflows, 11.3% of the total. Outflows to 23 countries in all were recorded, including Saudi Arabia ($7.3 million), British Virgin Islands ($6.7 million), Belize, Panama, Lichtenstein, Portugal and Spain, as well as Russia ($1.3 million), Moldova and Belarus.

Georgia had a net FDI inflow amounting to $914.4 million in 2013, 0.3% more than in 2012.

The net inflow of FDI in 2012 was $911.6 million, 18.4% more than in 2011. FDI outflows in 2012 totaled $518 million.