FDI continued growth in 2Q22
FDI increased by 9.1% y/y to US$ 351.8mn or 5.8% of GDP in 2Q22, according to Geostat’s preliminary figures. Notably, in 2Q22 equity investments were up 2.3x y/y to US$ 90.2mn, while reinvestments stood at US$ 240.3mn (down 4.3% y/y). The energy sector was the largest FDI recipient at US$ 76.6mn (up 14.5% y/y, 21.8% of total), followed by real estate at US$ 75.6mn (up 178.9% y/y, 21.5% of total) and financial sector at US$ 47.6mn (down 67.9% y/y, 13.5% of total).
UK topped the list of investors with US$ 64.7mn (18.4% of total FDI), followed by the Netherlands at US$ 44.8mn (12.7% of total) and Japan at US$ 41.8mn (11.9% of total).
International reserves at US$ 4.3bn in Aug-22
Gross international reserves increased by 3.5% y/y to US$ 4.3bn in August 2022, according to NBG. On a monthly basis, the reserves were up by 2.5% (+US$ 104.0mn). Changes in reserves were attributed to NBG’s FX purchases, and/or the government and banking sector FX operations.
