Communication sector fetches the highest foreign investment during Jul-Nov 2019

December 18, 2019 (MLN): Direct Foreign Investment (FDI) in Pakistan during Jul-Nov 2019 increased to $850 million from $477.3 million in the same period last year.

This significant upsurge of 78% in FDI recorded on account of huge inflows from Norway and China, indicating that the economy is moving towards stabilization as these inflows would further provide comfort to the country’s external sector.

According to the latest data released by the State Bank of Pakistan (SBP) on total Foreign Investment received by sectors, the Communication sector has received the highest net foreign investment of $291.6 million during the period under review. Compared to the same period of last year, the sector observed net outflows of $113 million. Telecommunication under Communication Segment attracted the highest net inflows of $280.4 million.

The detailed analysis revealed that the second sector with higher net flows in Pakistan is Financial Business, as it fetched $131 million, compared with $64.9 million in the same period last year.

The third-highest net FDI receiver is Electrical Machinery segment with net inflows of $83.4 million in Jul-Nov 2019, showing a decline of 33% as the sector observed $124.4 net foreign inflows in Jul-Nov 2018.

The next in line is the Oil & Gas Exploration Sector, which recorded net inflows of $61.9 million. Compared to the corresponding period last year, the sector’s inflows declined more than half by 54% YoY.

On the other hand, Food and Electronics sector witnessed net outflows of $14.9 million and $11 million during the period under study, while in the same period last year, these sectors attracted investments worth $10.9 million and $12.6 million respectively.

Copyright Mettis Link News

Posted on: 2019-12-18T13:34:00+05:00

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