FDI in Pakistan plummets 29pc YoY in April
Last updated on: 18 May,2023 04:49 am
China was the biggest investor with $348m in 10MFY23
KARACHI (Web Desk) - Foreign Direct Investment (FDI) in Pakistan dipped by almost 29 per cent year-on-year to $121.6 million in April and 23pc in the first 10 months of the current fiscal year (2023-24), the State Bank of Pakistan (SBP) data shows.
The FDI in April was $121.6m against $170.6m in the same period of last year, a decline of 28.8pc. The foreign investment fell by 23pc to $1,170m in FDI during July-April 2022-23 compared to $1,523m it attracted in the same period of last fiscal year.
According to the central bank's data, China was the biggest investor with $348m in 10MFY23 but the amount was less than last year’s $403m in the same period last year.
Japan was the second with $162m FDI during July-April FY23. However, it was against a net withdrawal of $10m during the same period last year.
Other impotent investors were Switzerland ($132m), UAE ($110m), the United States ($101m) and the Netherlands ($61m). Australia withdrew $238.6m during the period under review, the SBP data reveals.
Economic analysts fear that foreign inflows into the country in coming months may not improve if the political crisis persists.