FAIRS & EXHIBITIONS |
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FDI Flows to Turkey in the First Half of 2009 |
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In the first 6 months of 2009, foreign direct investment (FDI) inflows to Turkey have reached a $ 4.2 billion. The figure denotes a decrease by 57 % compared to the same period of last year. As of end of June 2009, the annualized FDI (July 2008 - June 2009) is $12.4 billion. In parallel to the decline in global FDI inflows in 2008, FDI inflows declined by 18 % in Turkey and received total of 18 billion USD in FDI inflows. Continued downward trend in the first half of 2009, means a 50% decline annually for Turkey, reflecting the global downward trend. It is anticipated that the FDI inflows to Turkey this year will remain below 10 billion USD, marking a steeper decline in comparison to the previous year. Energy and manufacturing industry had the highest shares in FDI inflows in the first half of 2009, with 45.2 and 21.2 percent shares in total respectively. Construction, real estate and financial services sectors followed. Significant portion of the FDI inflows to the energy sector in 2009 is composed of privatization and merger and acquisition agreements made in 2008. Inflows through privatization of Izgaz of Kocaeli, natural gas distribution company, 90 % shares of which was acquired by Suez of France, and partnerships made between Enerjisa and Verbund of Austria, and between Ak Enerji and CEZ of Czech Republic constitute major inflows both in the energy sector and in the aggregate FDI flows. Looking at the sub-sectors of the manufacturing sector, non-metallic minerals and machinery & equipment received 27 and 26 percent shares respectively from the total inflows. Food-beverages-tobacco sector followed with 13 percent share. In the first half of 2009, the major source countries for FDI inflows to Turkey were Austria, France, Czech Republic, Netherlands and Luxembourg. Looking at the source of inflows regionally, Europe accounted for 90 percent of the inflows in the first six months. Cumulative stock value of FDI in Turkey, which was at 70 billion USD at the end of 2008, was realized as 107 billion USD as of June 2009. (YASED) |
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