FDI stood at 4.6% of GDP in 2Q19
FDI was down 53.7% y/y to US$ 187.0mn in 2Q19, according to Geostat’s preliminary figures. The major reasons behind this decrease were completion of BP gas pipeline, reduction of debt liabilities and reinvestments. The energy sector was the largest FDI recipient at US$ 63.8mn (-37.6% y/y, 34.0% of total), followed by manufacturing at US$ 38.4mn (+97.3% y/y, 20.5% of total), hotels and restaurants at US$ 28.1mn (15.0% of total) and transports at US$ 26.5mn (-58.6% y/y, 14.2% of total). Netherlands topped the list of investors with US$ 58.1mn (-23.4% y/y), followed by Turkey at US$ 36.0mn (-8.9% y/y) and USA at US$ 27.5mn (-1.5% y/y).
Exports up 12.3% y/y in August 2019
In August 2019, exports increased by 12.3% y/y to US$ 309.4mn, imports fell by 3.7% y/y to US$ 744.5mn and the trade deficit narrowed 12.5% y/y to US$ 435.1mn, according to Geostat’s preliminary figures. In 8M19, trade deficit reduced 13.8% to US$ 3.3bn, posting improvement since November 2018. The reduction in trade balance was supported by 12.4% y/y growth in exports and by 4.4% y/y drop in imports in 8M19 (at US$ 2.4bn and US$ 5.7bn, respectively). Detailed foreign trade statistics will be available on September 19, 2019
