Netherlands, US and Germany biggest investors in Türkiye

ISTANBUL

The Netherlands, the United States and Germany were the top three investors in Türkiye in the first quarter of 2024, the International Investors Association (YASED) has said, citing data from the Central Bank.

Foreign direct inflows amounted to $1.5 billion in the first three months of the year, while inflows stood at $336 million in March alone.

The Netherlands accounted for 25 percent of the total FDI equity inflows, followed by the United States at 21 percent and Germany at 12 percent, according to a report by YASED.

The shares of the Netherlands and the U.S. in FDI inflows were 16 percent and 8 percent, in the first quarter of last year, respectively. Germany’s share also rose from 7 percent a year ago.

Ireland and the U.K. ranked as the fourth and fifth biggest investors with 7 percent and 6 percent shares in FDIs, respectively. Spain was at 5 percent of the foreign investments in Türkiye, while Italy’s share was 4 percent.

“During the first quarter of 2024, the European Union (EU-27) countries continued to be the primary source of FDI equity inflows to Türkiye, constituting 58 percent of the total,” said the association.

In the first quarter of 2024, Türkiye recorded $1.22 billion in FDI inflows through equity capital and $796 million through the sale of real estate to foreign nationals, according to YASED.

Financial and insurance activities (21 percent), wholesale and retail trade (15 percent), and mining and quarrying (14 percent) attracted the majority of equity capital inflows, according to YASED.

FDI inflows in the first quarter of 2024 accounted for 14 percent of the current account deficit which stood at $10.86 billion.

From 2002 to the first quarter of 2024, Türkiye has received over $264 billion in FDI inflows.

 Trade Winds forum

Meanwhile, Trade Winds, the largest U.S. government-led trade mission and business development forum, began in Istanbul.

The U.S. Department of Commerce is bringing more than 120 U.S. businesses to Europe and Eurasia for the 14th edition of the forum.

Under Secretary of Commerce for International Trade Marisa Lago is leading the primary trade mission to Istanbul.

There are also spin-off events in Italy, Romania, Denmark, Poland and Kazakhstan, preceding and following the main event in Istanbul, which concludes on May 15.

The event will enable American and Turkish companies to evaluate investment and partnership opportunities,” said Julie Eadeh, U.S. Consul General in Istanbul, adding that Türkiye is one of the most important business partners for America.

Türkiye and the U.S. aim to boost bilateral trade volume, which currently stands at $33.5 billion, to $100 billion.