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Turkey sees net international direct investment drops 18 pct in first 10 months

14 December 2010 19:08 (UTC +04:00)

Baku-APA. Net international direct investment inflow in Turkey recorded a 17.9 percent year-on-year decrease in the first 10 months of this year to 5.88 billion U.S. dollars, official statistics showed Tuesday, APA reports quoting news.xinhuanet.com website.

That was a slower drop than a 20.9 percent slump in the first nine months of this year, according to figures from the Prime Ministry Undersecretariat of Treasury.

From January to October, real estate was the only item where net international direct investment inflow increased, with a rise of 36.5 percent year-on-year to 1.99 billion U.S. dollars, Treasury figures released.

Turkey has seen foreign direct investment plummet to 8.4 billion U.S. dollars in 2009 as a result of the global financial crisis.

The recession also led Turkey’s economy to shrink 4.7 percent last year. The economy rebounded to an 8.9 percent growth in the first three quarters of this year.