Money

$3B of foreign investment was made to Turkish service sector this year

Turkey had a foreign investment of $3 billion 934 million in the first 8 months of the year due to Covid-19. It was noteworthy that $3 billion 198 million of these investments was done to the tertiary sector.

 According to the data of the Ministry of Commerce, the amount of direct foreign investment, which was $14.6 billion in the 1984-2002 period, reached $217.5 billion cumulatively in the period 2003-2019.

While there was an inflow of $ 802 million in foreign direct investments in August last year, there was an inflow of $ 536 million in August this year.

In the January-August period, when the Covid-19 epidemic was effective, foreign investments reached $3 billion 934 million. Looking at the distribution of foreign investments by sectors, it was seen that $3 billion 198 million were made in the tertiary sector, $764 million in the industry, and $2 million in the agriculture sector.

Manufacturing industry investments accounted for $622 million. 46 percent of this amount was allocated to chemical manufacturing, 21 percent to electrical-electronic and optical products, and 12 percent to furniture manufacturing.

The highest share of these foreign direct investments coming to Turkey was from Italy with $966 million, this country was followed by the United States with $745 million, England with $439 million, the Netherlands with $354 million, Luxembourg with $231 million, Germany with $229 million, Ireland with $149 million and Norway with $104 million.

Foreign direct investments of Turkish investors

While the direct investments made by Turkish investors to abroad were $2 billion 924 million last year, it reached $45.6 billion cumulatively from 2003 to 2019.

In August, the direct investments to abroad increased by 14.9 percent compared to August 2019 and reached $162 million.

source: AA / translated by Melisa Karayusufoglu

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