Türkiye welcomes $910M in January, foreign investments skyrocket

The latest data released by the Central Bank of the Republic of Türkiye indicates that the country received $910 million in foreign direct investment (FDI) in January 2024.

This figure, compiled from the Balance of Payments Statistics shared by the Central Bank on March 12, 2024, has been analyzed by the International Investors Association (YASED) to produce the "International Direct Investment Bulletin."

According to YASED, the $910 million influx marks a 20% increase compared to January of the previous year. Within the total FDI, $399 million entered as investment capital, $415 million through real estate sales to foreign nationals, and $102 million via borrowing instruments.

Additionally, investment disinvestments, totaling $6 million, slightly offset the total FDI, which settled at $910 million.

The FDI recorded in January corresponds to 36% of the total current account deficit for the same month. Looking at cumulative FDIs since 2002, the total FDI inflow into Türkiye has exceeded $264 billion.

US dominates FDI inflow to Türkiye

In terms of sectors, mining and quarrying took the lead among investment capital inflows in January, accounting for $167 million (42%). Wholesale and retail trade sectors continued to perform well, constituting 15% of investment capital inflows.

The United States led the FDI inflow to Türkiye in January, accounting for the highest share at 44%. Germany followed with 17%, while the United Kingdom came in third with 12%. The total share of the European Union (EU-27) countries in FDI inflows was 27%.

Türkiye's ability to attract foreign investment across various sectors continues to demonstrate its appeal to international investors, contributing to the country's economic growth and development prospects.

Source: Newsroom