Greece ranks third for cumulative Foreign Direct Investment in FYROM

Greece ranks third as a source of cumulative foreign direct investment (FDI) in the Former Yugoslav Republic of Macedonia (FYROM) and eighth for FDI made in the year 2017, according to a document released by the Skopje Economic and Commercial Affairs Bureau on Saturday.

Greece FDI in 2017 amounted to 5.54 million euros, rising to 8th from 103rd in 2016, when there was a divestment of 15.69 million euros of Greek FDI in FYROM.

In terms of total cumulative FDI from 1997-2016, Greece ranks third after Austria and the United Kingdom, with 463.4 million euros.

The geographic distribution of FDI in FYROM changed significantly in 2017, with large-scale divestment by countries that were among its top sources of FDI, such as the UK and Turkey, as well as a 13.57-million-euro reduction of FDI from the United States.

In terms of the distribution of FDI in FYROM by sector, the biggest part went to services (29.5 pct), following by mining/quarries (15.1 pct), commerce (8.3 pct) and agriculture/fisheries (4.3 pct). In manufacturing, which previous absorbed the greater part of FDI inflows, there was a divestment of 75.61 million euros.