YEREVAN, June 6. /ARKA/. Net foreign direct investment (FDI) that were channeled into Armenian economy in the first quarter of 2019 totaled 3.7 billion drams ($7.6 million), down from 40.7 billion drams ($83.6 million) in the first quarter of 2018, according to the latest numbers, released by the National Statistical Committee (NSC).
A significant amount of foreign direct investment in the amount of 12.5 billion drams came from Russia, up from 5.7 billion drams in the first quarter of 2018. Significant foreign direct investments came also from Italy – 3.8 billion drams, Lebanon – 1.98 billion drams, Finland – 1.94 billion drams, Cyprus –1.13 billion drams, UAE – 1 billion drams.
Remarkably, in the first quarter of 2018 and earlier the largest amount of FDI would come from the Island of Jersey, one of the so-called “tax havens”. For comparison, in the first quarter of 2018, FDI from that island amounted to 20.6 billion drams. In the first quarter of 2019 no FDI came from the island.
During the reporting period, the cumulative net foreign investments in the real sector of the Armenian economy amounted to 47.3 billion drams against 32.2 billion drams in the first quarter of 2018.
Total net foreign investment flows include direct, portfolio and other investments (loans, debt and other liabilities). ($1 – 480.02 drama). -0-