Norway largest investor in Türkiye in May: Report

ISTANBUL

Norway took the lead in foreign investments in Türkiye in May, the International Investors’ Association (YASED) has said in a report, citing data from the Central Bank.

The Nordic country commanded a 39 percent share, followed by the Netherlands at 18 percent, Czechia at 8 percent, Sweden at 5 percent and Azerbaijan at 4 percent.

European countries outside the European Union (EU-27) emerged as the largest investor region in Türkiye, holding a 45 percent share, according to the report.

Türkiye recorded $590 million in equity capital Foreign Direct Investment (FDI) inflows, $303 million via debt instruments, and $189 million through real estate sales to foreign nationals in May 2024, said YASED.

After factoring in divestments worth $8 million, the total FDI inflows were $1.1 billion, which corresponded to 22 percent of the current account deficit in May.

In May 2024, total equity capital inflows reached $590 million. The transportation and storage services garnered a significant share, amounting to 42 percent with an inflow totaling $247 million.

Computers, electrical-electronic, and optical products accounted for 10 percent, while agriculture, forestry, and fishing captured 9 percent of the inflows in the same month, YASED said.

The FDI inflows for the first five months of 2024 amounted to $3.8 billion, marking a 15 percent decrease compared to the same period last year. Real estate sales accounted for 37 percent of the total FDI inflows in the first five months of 2024.

Overall, Türkiye has received more than $267 billion in FDI inflows since 2002, according to the association.