Asian investments in Turkey approximately became the double between January – August 2019
The first eight months of the year, Turkey has witnessed a huge amount of investments from Asia amounted to $ 1.7 billion. Although Europe is still the first foreign investor in Turkey with more than half of total investments, Asian investments also reached an impressive amount nearly the double of last year.
As reported by the Central Bank of Turkey, the total foreign investment made in Turkey in the period between January – August raised by 11% compared to the same period of last year to become $ 4.2 billion.
Asian investment in Turkey has considerably increased to be in the second place of foreign investors in Turkey with 39.5% of the total foreign investments.
In fact, based on the regions we can classify the investments as followed:
- Europe: $ 2.25 billion (52.6%)
- Asia: $ 1.7 billion (39.5%)
- America: $ 306 million (7.2%)
- Africa: $ 31 million (0.7%)
Although the total of foreign investment in Turkey increased compared to last year, some regions dropped while others rose. In fact, Europe investments which is still on the top of the list decreased by 16.8% compared to the same period of last year. While Asian investments rose by 91%.
Top 5 foreign investors in Turkey:
With a deeper look we can point out the Top investing countries in Turkey. Thus, UK comes on the top of the list with a capital of $696 million making it 16.3% of total investment replacing Italy that recorded the highest investment last year Followed by Qatar with $ 569 million, Azerbaijan with $ 564 million, Netherland with $ 458 million and Japan with $ 304 million.
Top foreign investment sector in Turkey:
The FDI (Foreign Direct Investment) has reached involved different sectors. In fact, wholesale and retail trade sectors has the biggest part of investment with $ 721 million making it 16.8%, coke and refined Petroleum products recorded $ 421 million while chemical products reached $ 419 million. Holding activities companies accomplished $ 410 million.
Last year, construction sector recorded the highest foreign investment amount in Turkey between January and August.