Turkey Attracts $7.67 Billion in Foreign Direct Investment in First 9 Months
According to the "International Direct Investments Bulletin with Figures" prepared by the International Investors Association (YASED), compiled from the Balance of Payments Statistics published by the Central Bank of the Republic of Turkey (TCMB) on November 12, 2024, a total of 7 billion 670 million dollars of International Direct Investment (IDI) entered Turkey in the first nine months of 2024.
As per the updated official data shared on November 12, 2024, Turkey recorded 1.1 billion dollars worth of International Direct Investment (IDI) in September 2024, while the IDI entries in the third quarter of 2024 reached 2.8 billion dollars. With these current statistics, the total amount of IDI coming to Turkey in the first nine months of the year was recorded as 7 billion 670 million dollars. This represents an 8% increase compared to the same period in 2023, and the total value of IDI inflows to Turkey since 2002 has exceeded 271 billion dollars.
The total IDI inflow in the first nine months of 2024 was calculated at 7 billion 670 million dollars, of which 4.3 billion dollars was in the form of investment capital. Furthermore, 2.2 billion dollars and 1.6 billion dollars worth of IDI were recorded through real estate sales to foreign nationals and debt instruments, respectively. The total IDI inflow for the first nine months of the year was 7 billion 670 million dollars, factoring in the negative effect of investment liquidations valued at 474 million dollars.
The highest investment occurred in wholesale and retail trade and the manufacturing of chemicals and electronics. In the first nine months of 2024, total investment capital inflows amounted to 4 billion 331 million dollars, with the wholesale and retail trade sector accounting for 22% of this at 932 million dollars. The manufacturing of computers, electrical-electronic, and optical products attracted 11% of the investment capital inflows during the same period, outperforming previous cumulative performance. Other sectors with significant investment included the manufacturing of chemicals, chemical products, and basic pharmaceutical products and materials at 9%, financial and insurance activities at 8%, and professional, scientific, and technical activities at 8%.
In the first three quarters of the year, the most international investment came from the Netherlands, Germany, the USA, Ireland, Azerbaijan, and Switzerland. In the total period from 2002 to 2023, the European Union (EU-27) countries, which historically accounted for 58% of investments, continued to be the region with the highest investment in the first nine months of 2024 with a 52% share. Non-EU European countries, which were the second-largest investors in the previous period, became the second region with the highest investment in the first nine months of 2024 with an 18% share.
In terms of specific countries in the first nine months of 2024, the Netherlands held the largest share at 19%, followed by Germany at 12%, the United States (USA) at 11%, Ireland at 8%, and Azerbaijan and Switzerland at 7%.