ISLAMABAD: Net Foreign Direct Investment (FDI) in Pakistan grew by 8.1 percent during the first five months (July-November) of fiscal year 2023-24 to $656.1 million against $606.9 million. This was noted in the balance of payments details on the State Bank of Pakistan (SBP) website.

Net FDI during the same period (July-November) of the previous fiscal year amounted to $606.9 million.

During November alone, net FDI amounted to $131.4 million, a 12 percent increase when compared with the same month of the previous year when it stood at $117 million. On a month-on-month basis, FDI was up 7 percent in comparison to $122.46 million clocked in October.

Jul-Nov FDI up 8pc to $656m YoY

During July-November 2023-24, FDI inflows were $942.8 million against an outflow of $286.7 million.

During five months of current fiscal year, overall Chinese investment in the country declined by over 7 percent and yet remained the largest investing country, accounting for 35.5 percent of the total share with a net FDI of $232.7 million compared with $250.4 million during the same period last year.

Hong Kong emerged as the second-largest investor with a net FDI of $129.2 million, compared with $85.9 million during the same period last year, an increase of 50.4 percent and 20 percent of the total share.

Copyright Business Recorder, 2024