Foreign direct investment edges up 2.56pc in Jan

0
304

ISLAMABAD: The Foreign Direct Investment in Pakistan grew by 2.56 per cent to $132.2 million in January this year as compared to the FDI of $128.9 million recorded in January 2018.

On average, the FDI recorded a decline of 17.6pc as it fell from $1.761 billion in July-January 2017-18 to $1.451 billion in the first seven months of current fiscal year, according to the data released by the State Bank of Pakistan on Monday.

The country-wise data suggested that net foreign investment from China posted a negative growth as it fell to $819.6 million during the period under review as compared to the investment of $1,145 million recorded during the same period of last year.

The foreign investment from the United States plunged from $513.4 million in Jul-Jan (2017-18) to negative $151.4 million in the same period of the current fiscal year, however, foreign investment from the United Kingdom jumped from $48.2 million to $112.3 million in first seven months of current fiscal year.

Similarly, FDI from the United Arab Emirates increased from negative $28.7 million in the corresponding period of the previous year to $55.8 million in the same period of the current year.

FDI from Turkey increased to $42.3 million as compared to the investment of $10.9 million last year, whereas investment from Sweden decreased to negative $6.2 million in the period under review as compared to the investment of $10.4 million last year.

Investment from Saudi Arabia also increased from $0.9 million last year to $4.8 million during Jul-Jan 2018-19.

The Netherlands invested $57.3 million during the corresponding period of the current year as compared to last year’s investment of $56.8 million.

Investment from Hongkong took a long stride as it jumped to $25.5 million from negative $181.7 million last year, whereas Germany’s investment also rose to $32 million this year from $23.4 million last year.

The sector-wise data shows that investment in oil and gas exploration stood at $145.1 million during the period under review as compared to the investment of $121.6 million during Jul-Jan 2017-18.

Investment in the chemical sector rose to $83.5 million from $17.3 million last year, whereas the investment in electrical machinery also increased from $13.8 million last year to $126.4 million this year.

The investment, however, recorded negative growth in the construction sector as it fell to $288.9 million over the July-January period in FY19 as compared to the investment of $386.2 million in the same period of FY18.

LEAVE A REPLY

Please enter your comment!
Please enter your name here