Direct investment to Turkiye in the first quarter of the year amounted to $1.5 billion. $796 million of investments came from real estate sales. The countries that brought in the most foreign money were the Netherlands, the USA and Germany.
International Investors Association (YASED) announced the report prepared based on the Central Bank’s Balance of Payments Statistics.
According to official data, the amount of direct foreign investment coming to Turkiye in the first three months of 2024 was $1.5 billion. The amount in March was recorded as $336 million.
$796 million real estate sales
Of the ‘International Direct Investment’ (UDY) in the first quarter of the year, $1 billion 218 million were realized through investment capital inflows and $796 million were realized through real estate sales to foreign nationals.
Total FDI inflow in the first quarter was $1.5 billion, with the negative effects of debt instruments worth $112 million and investment liquidations worth $424 million.
The service sector came to the fore
Although the total volume of investment capital inflows in the first quarter of the year was more limited in volume compared to the previous quarter and the quarterly average of previous periods, the service sector came to the fore.
Finance and insurance activities, wholesale and retail trade, and mining and quarrying hosted the majority of investment capital inflows in the first quarter.
Specifically, in the financial sector, it was observed that ‘other financial service activities’, excluding banking and insurance activities, attracted $249 million of the $257 million investment inflow recorded in the sector in the first quarter.
Three countries stood out in investment capital inflows
In the first quarter, European Union (EU-27) countries continued to be the largest source of investment capital inflows to Turkiye with a share of 58%. Among the sources of investment capital inflows to Turkiye, the Netherlands received a 25% share, followed by the United States of America (USA) with 21% and Germany with 12%.
Source: Dunya.com / Prepared by Irem Yildiz