Foreign Direct Investment declines 50pc in FY19

ISLAMABAD: The Foreign Direct Investment (FDI) in Pakistan stood at US$1.737 billion in July-June (2018-19) compared to the investment of $3.47 billion recorded during the same period, a year ago, showing a negative growth of 50 percent.

On year-on-year basis, the FDI also fell to $130.4 million against $309.6 million recorded during the same month of previous year, according to the data released by State Bank of Pakistan (SBP) on Monday.

The country-wise data shows that net foreign investment from China posted a negative growth as it fell to $546.8 million during the period under review compared to the investment worth of $2.004 million recorded during same period of last year.

The foreign investment from United States plunged from $160.9 million in Jul-Jun (2017-18) to $88.6 million in same period of current fiscal year, while foreign investment from United Kingdom also decreased from $305 million to $185.2 million in the year 2018-19.

The FDI from United Arab Emirates, however, jumped from negative $3.3 million in the corresponding period of previous year to $102.5 million in the same period of current year.

From Turkey, the FDI also increased to $73.8 million as compared to the investment of $29.8 million during the same period of the preceding year, whereas investment from Switzerland decreased to $21.2 million in the period under review compared to the investment of $79.4 million last year.

Investment from Saudi Arabia also increased from $3.8 million last year to $19.2 million during July-Jun 2018-19.

Netherlands invested $68.4 million during the corresponding period of current year against the investment of $100.2 million during the same period last year.

Investment from Hongkong also decreased to $130.1 million in July-Jun (2018-19) against the investment of $183.6 million made during same period of last year, whereas Germany’s investment rose to $50.5 million this year from $34.7 million last year.