Foreign investment in Spain falls

23rd September 2004, Comments 0 comments

Spain is ranked sixth among countries with the largest foreign direct investments, receiving USD 25 billion, it has been revealed.

23 September 2004
 
GENEVA - Spain is ranked sixth among countries with the largest foreign direct investments, receiving USD 25 billion, it has been revealed.
 
The UN Conference on Trade and Development (UNCTAD) said late Wednesday foreign direct investment (FDI) fell for the third year running.

According to the annual report on investments issued by the Geneva-based organisation, FDI fell because of curtailed investment in developed countries.

In the European Union, the report said, FDI dropped 21 percent last year "mostly as a result of sluggish economic growth (and) a drop in investment in securities," among other factors.

UN experts also cited the depreciation of the dollar against the euro.

Only four EU countries - Austria, Belgium, Italy and Ireland - received increased FDI.

Spain received USD 25 billion in FDI last year compared with USD 36 billion in 2002.

FDI is forecast to increase this year as a result of greater economic growth.

UNCTAD ranked Spain eighth in the list of the top 10 capital-exporting countries.

Spain exported USD 23 billion of capital last year compared with USD 32 billion in 2002.
 
[Copyright EFE with Expatica]
 
 
Subject: Spanish news

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