By Emir Yildirim
ISTANBUL (AA) - EU-based investors’ net foreign direct investment (FDI) stocks in non-EU countries totaled €9.2 trillion ($9.7 trillion) in 2023, down 4.1% year-on-year, according to the Eurostat statistical bureau on Tuesday.
The US was the largest FDI partner of the EU, accounting for 26.6% of investments received from EU-based investors, amounting to $2.5 trillion, followed by the UK with 19.3% at $1.8 trillion and Switzerland with 8.2% at $795 billion.
Brazil followed with 3.4% at $329 billion and Singapore with 2.9% at $277 billion.
“More than 2% of EU residents’ stocks were held in Canada (2.7%), China except Hong Kong (2.5%), Russia (2.4%), Bermuda (2.3%), Mexico (2.3%) and United Arab Emirates (2.0%),” said Eurostat.
The EU’s net investment position compared to the rest of the world increased 2.2% on an annual basis.
Non-EU investors’ FDI stocks in the EU, meanwhile, amounted to $7.8 trillion in 2023, registering a decline of 5.4% year-on-year.
The US accounted for most of the non-EU FDI stocks held in the EU with a 30.9% share at $2.4 trillion, followed by the UK with 17.6% at $1.3 trillion and Switzerland with 8.3% at $652.3 billion.
The Cayman Islands’ FDI stocks in the EU accounted for 4.7% at $371.4 billion, while Singapore had a 4.2% share with $330.3 billion, and Bermuda made up 3.7% with $290.3 billion.
“Among other countries, more than 2% of the FDI stocks in the EU were held by investors from Canada (3.3%), Japan (2.9%), Hong Kong (2.1%), Russia (2.1%) and the British Virgin Islands (2.0%),” according to Eurostat.