Turkey's net foreign direct investment inflow slumps in June

• Source: Xinhua
• [08:25 August 14 2009]
• Comments

Turkey saw its net foreign direct investment inflow down 65 percent year-on-year in June, the semi-official Anatolia news agency reported Thursday, quoting the Turkish Treasury Under secretariat.

The net foreign direct investment inflow was 441 million US dollars in June, the government agency said in a statement on its website.

The amount was also lower than the 540 million US dollars in May and 1.5 billion US dollars in January, agency figures show.

Dwindling foreign and domestic demands hit the Turkish economy hard, which shrank a painful 13.8 percent in the first quarter, the largest slump since 1945.

By the end of June 2009, the number of international companies operating in Turkey reached 22,505, a rise from 21,079 at the end of 2008, with their business covering the areas of wholesale and retail trade, manufacturing industry and real estate, said the agency.

Some 54.7 percent of companies operating in Turkey by the end of June, were from the European Union (EU) countries, according to the agency.