The National Statistics Office of Georgia on Monday reported foreign direct investments in the first quarter of 2024 [January-February-March] have decreased by 64.4% compared to the same period in 2023.

In the first quarter of 2024, the country attracted $201.4 million in investments, significantly down from $566.4 million in the corresponding period of 2023, marking a decline of $365 million, the data revealed. 

The National Statistics Office of Georgia attributed this decrease to a drop in all three components of direct foreign investments: share capital, reinvestment, and debt obligations.

The largest source of investments in the first quarter of this year was Turkey, contributing $42.4 million. The Czech Republic followed with $41.5 million, and the US came in third with $33.7 million.

In terms of sectors, the energy sector attracted the most investment at $78.7 million. The trade sector was second with $39.5 million, and the transport sector ranked third with $38.8 million.