(RTTNews) - Foreign investment in the Russian economy during January-September this year fell to $54.738 billion, a 27.8% decrease from the corresponding period of last year, the state statistics service said Friday.

According to Rosstat, foreign direct investment (FDI) in the first nine months of the year almost halved to $9.975 billion.

FDI, the investment of assets in tangible structures and organizations is seen as more long-term in nature.

Portfolio investment was down 21.4% to $1.019 billion.
Economic recession prompted investors to withdraw billions of dollars from the Russian market.

The Netherlands remained the largest foreign investor in Russia with a share of 18.8 per cent of foreign investment in the country. Cyprus and Luxembourg follows it in the list.

Germany, China, Britain, Switzerland, and Japan were the other leading countries among investors in the reporting period, accounting for 75.1% of total foreign investment in Russia.

Volume of Russian investment abroad in the first nine months of the year recorded $69.955 billion.

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com