In the first quarter of 2024, Turkey attracts $1.5 billion worth of foreign direct investment (FDI)
In the first quarter of 2024, Turkey has attracted $1.5 billion worth of foreign direct investment (FDI) according to the “International Direct Investments Bulletin with YASED Figures” prepared based on the Balance of Payments Statistics shared by the Central Bank of Turkey on May 13, 2024.
According to the latest official data shared on May 13, 2024, in March 2024, Turkey received $336 million worth of FDI. When evaluating the total for the first three months of 2024, FDI inflows in the first quarter amounted to $1.5 billion.
TOTAL FDI INFLOW IN FIRST QUARTER WAS $1.5 BILLION
Within the total FDI inflows for the first quarter, there were $1.218 billion in equity investments and $796 million from real estate sales to foreign nationals. With the negative impacts of $112 million from debt instruments and $424 million from disinvestment, the total FDI inflow in the first quarter was $1.5 billion.
In the first quarter of 2024, financial activities became the sector attracting the most international investment. Although the total volume of equity investment inflows in the first quarter of 2024 was limited compared to the previous quarter and the quarterly averages of past periods, the service sector stood out in the sectoral composition.
DURING FIRST QUARTER 2024 FINANCIAL ACTIVITIES HOSTED MAJORITY EQUITY INVESTMENT FLOWS
During the first quarter of 2024, financial and insurance activities, wholesale and retail trade, and mining and quarrying hosted the majority of equity investment inflows. In the financial sector, it was observed that the “other financial service activities,” excluding banking and insurance activities, attracted $257 million out of the $249 million recorded in the sector.
In the first quarter of the year, the largest share of international investment came from the Netherlands, the United States, and Germany.
During the first quarter of 2024, European Union (EU-27) countries continued to be the largest source of equity investment inflows to Turkey with a 58% share.
Among the sources of equity investment inflows to Turkey, the Netherlands accounted for a 25% share, followed by the United States with 21%, and Germany with 12%.
