Foreign direct investments (FDIs in Greece) posted a significant increase in Greece over the past three years when compared with the preceding period, according to the Organisation for Economic Co-operation and Development’s (OECD) “FDI in Figures” report.
Specifically, the international organization calculates an annual average of 6.7 billion USD as FDIs in the country over the 2021-2023 period, up from an average 4.15 billion USD in the 2017-2019 period, an increase of 62%.
The figure had dropped to 3.2 billion in 2020 due to the Covid-19 pandemic, with global FDIs dropping by a whopping 58% during that year, according to the OECD.
The year 2021 witnessed a resurgence in Greece, with FDIs reaching 6.3 billion USD and rising even higher to 8.4 billion USD in 2022.
The figure for 2023 dropped, however, easing to 5.4 billion USD, but still higher than the yearly average for the 2017-2019 period.
OECD said the FDI figures for Greece usually correspond to the acquisition of companies’ share capital through purchases or mergers, new production units, a re-investment of profits and business-to-business borrowing.
The total FDI Inward Position figure for Greece increased in 2022 to 50.8 billion USD, or 23.2% of GDP.
Conversely, an increase in direct investments by Greek companies abroad was also noteworthy, a development that reflects a strengthening of the Greek economy, according to OECD. Specifically, from a mere 429 million USD on average in the 2017-219 period, FDIs jumped to 2.8 billion USD on a yearly basis in the 2021-2023 period. They continued to grow in 2023, reaching almost four billion USD. The total of investments by Greek companies abroad (FDI Outward Position) totaled 16.7 billion USD in 2022, or 7.7% of GDP.
According to the OECD report, global FDIs (inbound and outbound) fell by 7% to 1.36 trillion USD, continuing a decline witnessed in 2022 and moving for the second year in a row at levels lower than those recorded before the pandemic.
Source:tovima.com
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