Türkiye attracts USD497 million in foreign direct investments in August
Date
10/13/2024 4:43:08 AM
(MENAFN) According to data released on Friday by the Turkish International Investors Association (YASED), Türkiye attracted USD497 million in foreign direct investments (FDI) in August. This figure reflects a diverse range of investment activities within the country. Out of the total FDI, USD238 million was categorized as investment capital, while USD201 million was generated from real estate sales to foreign buyers, indicating a strong interest in the Turkish property market.
In terms of sector distribution, the wholesale and retail trade sector contributed significantly, accounting for 16 percent of the investment capital with an influx of USD46 million. This sector's performance marks a notable improvement compared to past cumulative figures. Additionally, the food, beverages, and tobacco manufacturing sector also represented 16 percent of the investment capital, showing a positive trajectory in attracting foreign investments. Chemical and basic pharmaceutical products accounted for 11 percent of the investment capital, while information and communications technologies made up 9 percent, underscoring a growing interest in technological advancements and innovation.
Germany emerged as the leading source of international investments in Türkiye for August, contributing 12 percent of the total FDI. This was followed closely by Switzerland with 11 percent and the Netherlands with 10 percent. The United States and France each represented 9 percent of international investments, alongside Luxembourg and Taiwan, which contributed 9 percent and 7 percent, respectively. Notably, European Union countries collectively accounted for 54 percent of the investments during this period, demonstrating their crucial role in Türkiye's economic landscape.
In the first eight months of the year, Türkiye has attracted a total of USD6.41 billion in foreign direct investments, which is a slight decrease of 2 percent compared to the same timeframe last year. The leading countries investing in Türkiye so far have been the Netherlands at 20 percent, Germany at 15 percent, and the United States at 13 percent. Overall, Türkiye's total foreign direct investments since 2002 have reached USD270 billion, reflecting the country's enduring appeal to foreign investors.
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