Italy the country with the fastest increase in investments in Turkey
While Turkey received $6.5 billion worth of foreign direct investments in 2018, Turkish central bank figures showed that a $381 million rise in investments made Italy the country with the fastest increase in capital inflows to Turkey, Anadolu Agency reported.
Italian investment in Turkey rose to $509 million in 2018 from $128 million the previous year.
European countries retained the largest share in foreign direct investments in Turkey with $4.2 billion, though European capital inflows decreased last year by 14 percent compared to 2017. Foreign direct investment from Asian countries increased by 3 percent compared to 2017 and reached $1.7 billion, Anadolu said.
The Netherlands is still the country with the largest share in foreign direct investments with 13 percent, however Dutch investments decreased by 52 percent to $833 million. Foreign direct investments from Spain fell by 84 percent compared to 2017, while Azeri investments decreased to $516 million from $1 billion.
Despite a diplomatic row between Washington and Ankara in mid-2018 over the almost two-year detainment of an American pastor, the United States followed Italy with a 148 percent increase bringing its total foreign direct investments to Turkey to $446 million last year.