The FINANCIAL — Foreign direct investments in Georgia amounted to 174 million USD in 2011 (preliminary data) according to the National Statistics Office of Georgia.
This index is up 2.3 times from 2010 and 1.5 times from 2009. Cyprus made the largest investment in the first quarter of 2011.
“For the first quarter of 2010 FDI’s 75.7 million USD entered Georgia, for the second quarter of 2010 196.9 million USD, for the third quarter 160.4 million USD and for the fourth quarter 120 million USD,” Geostat notes.
“Foreign direct investments (FDI) in Georgia amounted to 814 million USD in 2010 (adjusted data), up to 24% from 2009 and 47 % from the preliminary data of 2010. In 2008 1,564 million USD of FDI entered Georgia and the growth rate of FDI in accordance with last year totaled -22.4 %. In 2009 FDI was registered at 658 million USD and the growth rate totaled -57.9%,” Geostat notes.
According to the National Statistics Office of Georgia, in 2009 814 million USD of FDI entered Georgia and it caused a 23.7% growth rate in accordance to last year. The total share of 6 major foreign direct investing countries reached 58% in 2010. The FDI from EU countries amounted to 248 million USD; accounting for 30% of the total FDI, while the respective numbers for the FDI from CIS countries equalled 91 million USD with an 11% growth rate.
As Geostat notes, the major investor countries in 2010 were the United States with 136 million USD, Turkey with 92 million USD, the Netherlands with 73 million USD, the United Kingdom with 59 million USD, Azerbaijan with 58 million USD and the United Arab Emirates with 56 million USD. FDIs from other different countries totalled 341 million USD last year. Mining and manufacturing with 28%, leads among the FDI by the major economic sector in 2010, the second place belongs to transport and communication with 25%, real estate 15%, financial sector 13% and 18% belongs to other sectors.
“The total share of 6 major foreign direct investor countries reached 86 % in 2011. The FDI from EU countries amounted to 116 million USD, accounting for 67 % of the total FDI,” the National Statistics Office says.
“Cyprus leads among the major investor countries in 2011 with 41 million USD. The United Kingdom is in second place with 29 million USD then there are the Netherlands – 25 million USD, Russia – 20 million USD, Virgin Islands – 20 million USD, Turkey – 14 million USD and Azerbaijan – 12 million. Other international organizations imported 9 million USD worth of FDI for the first quarter of 2011,”Geostat notes.
“FDI by the major economic sector in 2011 belonged to 48% in industry, 23% in financial sector, 125% in energy sector, 8% in construction, 4% in real estate, 2% in health and social work, 2% in hotels and restaurants and 1% in other sectors,” Geostat says.
The National Statistics Office of Georgia (Geostat) conducts annual and quarterly statistical surveys on external economic activities of business entities.
“The adjusted level of 2010’s FDI showed a 47% growth rate with respect to the preliminary data. One of the main reasons for such a big difference consists of the adoption of the new methodology of FDI calculation and the stipulating use of consolidated financial indicators of business entities. In this regard the coverage enterprises increased significantly.
Companies are obliged to present revised and adjusted income statements to the tax authorities once a year. Taking this fact into account, Geostat releases preliminary annual data as the sum of the four quarters data. Thereafter, the preliminary annual data is adjusted on the basis of the annual survey (statistical survey on external economic activities of enterprises) results,” Geostat notes.
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