Pakistan sees 21pc decline in foreign direct investment
Business
Inflow stood at 1.948bn against an outflow of $629m
KARACHI (Web Desk) – Pakistan witnessed a 21 per cent decline in foreign direct investment (FDI) during the period July-May of the current fiscal year 2022-23 – a development which isn’t a surprise given the political and economic scenario prevailing in the country.
Hence, the country received $1.32 billion in FDI against $1.66bn recorded in the same period of 2021-22, the figures released by the State Bank of Pakistan show.
When it comes to the FDI inflows, the amount was down 19pc to $1.948bn. The outflow was recorded at $629 million outflows – a 15pc increase.
But the data is positive when it comes to May 2023 both on month-on-month basis and year-on year basis – an amount of $149.6m compared to $121.6m in April 2023 and $141.2m in May 2022.
The country-wise distribution of FDI during the first 11 months of the outgoing fiscal year shows that China again topped the list with $374.8m but was lower than $425.7m recorded last year.
Details of some other countries are: Japan $168.4m against $179.3m last financial year, Switzerland $140m compared to $129.4m, the United Arab Emirates $129m against $112m, and Hong Kong $94.5m against $148m when compared to the last fiscal year.
Earlier, it was reported that the FDI was reduced by $350m in the first 10 months of the current fiscal year – with an inflow of $1.77bn and outflow of $600m, which translates into a net FDI of $1.17bn.
