43% investment growth in Turkey

43%
investment growth in Turkey

Foreign
direct investment in Turkey reached 1 billion 698 million dollars at the end of
2017 compared to the same period last year, up 43 percent.

According
to the Central Bank of Turkey’s balance of payments data, the amount of direct
investment by citizens or companies in Turkey in the first quarter of this year
increased by 43 percent to 698 million dollars.

During the
period January-March, Spain, Azerbaijan, the Netherlands, Austria, and Germany
had the largest share of direct economic investment in Turkey, respectively.

According
to the report, 1.7 billion dollars of foreign direct investment was invested in
the period, Spain’s share with 939 million dollars was 55%. The investment came
from one of Spain’s largest banks (BBVA), which bought the Guarantee Bank of
Turkey.

Azerbaijan
also owns 11.4 percent (193 million dollars) of foreign investment in the first
quarter of this year. The Netherlands invested 106 million dollars (6.2
percent), Austria 95 million dollars (5.6 percent), and Germany 60 million dollars
(3.5 percent).

Also, 54%
of the investments were in the banking sector, 13.1% in the mining sector, 5.2%
in the production and distribution of electricity, gas, steam, and
air-conditioning, 4% in retail, and 3.2% in paper and paper products.