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Turkish foreign direct investment $6.8 billion in 2014

Staff writer |
Turkish companies made a total of $6.8 billion in foreign direct investment last year, according to a report released by the United Nations Conference on Trade and Development (UNCTAD).

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That was an increase of 89 percent from the previous year, the report said.

UNCTAD said that companies in Turkey have consistently increased the level of outward of foreign direct investment in recent years, apart from a slight decline in 2013.

The report showed that the overall share of total global FDI undertaken by companies in developing-economies rose to 36 percent in 2014, while it was just 12 percent in 2007. FDI from emerging economies increased 30 percent in 2014, according to report.

Developing Asia has become, for the first time, the world's largest investor in other countries, with $440 billion investment abroad, followed by North America ($390 billion) and Europe ($286 billion).

Hong Kong and China were the second and the third largest investors in the world, after the United States.

Among the 20 largest investors, nine were either from developing or transition economies, included Hong Kong, China, the Russian Federation, Singapore, South Korea, Malaysia, Chile, Kuwait and Taiwan.

Last year, foreign investments from Japan, world's third largest economy, shrank 16.3 percent to $114 billion, a decline second only to that of Africa, where FDI dropped 20.6 percent to $11 billion.

UNCTAD said separately that the world's second largest economy, China, was the top destination for foreign direct investment in 2014, edging the U.S. out of that position for the first time since 2003.

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