DAWN.COM

Today's Paper | November 08, 2024

Published 19 Aug, 2023 06:05am

Foreign direct investment falls 23pc in July

KARACHI: Foreign direct investment (FDI) shrank 23.27 per cent month-on-month to $87.7 million in July amid prevailing unfavourable political and economic conditions.

However, data released by the State Bank of Pakistan (SBP) on Friday showed that the FDI increased by $12.9m or 17.3pc when compared with an inflow of $74.8m the country received in July 2022.

The central bank data showed that the foreign portfolio inflows were significantly higher than the previous year. The portfolio investment in July was $16.3m which collectively increased the total inflows to $104m.

The FDI in July 2022 was $74.8m and after adding a $3.7m portfolio investment the total rose to $78.5m.

Year-on-year, FDI inflows show a rise of 17pc

The highest FDI inflows were from China totalling $18m in July much higher than $7.1m in the same month last year. China has been the largest investor in Pakistan for last many years.

The inflows from Hong Kong were $16.9m, Netherlands $12.1m, Switzerland $10.1m and UAE $8.3m. The highest foreign portfolio investment came from the US totalling $7.9m in July.

The interim government has taken charge but it needs time to bring economic and political stability.

Published in Dawn, August 19th, 2023

Read Comments

What is Project 2025 that is being linked with Donald Trump? Next Story