Foreign direct investment into the Georgian economy totalled 417.3 million US dollars during the third quarter of 2019, 13.7 per cent than the adjusted data in the corresponding period of last year.
However, according to data from Geostat, Georgia’s statistical office, FDI in the country amounted to 908.9 million US dollars during the first nine months of the year, showing an almost 17 per cent drop compared with the same period of 2018.
In the reporting period, the United Kingdom topped Georgia’s foreign direct investments with 18 per cent. The Netherlands came in second with 16.4 per cent, followed by Turkey’s 10.3 per cent.
Georgia’s financial sector saw the highest share of FDI – 96 million US dollars. The manufacturing sector was ranked second in terms of attracting foreign investments with 49.3 million USD while the Georgian hospitality and restaurants sector attracted 45.7 million US dollars. Investments in the aforementioned three sectors made up 45.7 per cent of FDI attracted during the first three quarters.
Following a five per cent increase in 2016 and a 16 per cent rise in 2017, Georgia saw a huge drop in FDI – close to 35 per cent – in 2018.