Despite drop of investments from Russia, Cyprus and Virgin Islands, foreign investments to Armenia s economy increased by 36.7% in Jan-Sep 2015

ArmInfo. The inflow of foreign investments to Armenia's economy increased by 36.7% in Jan-Sept 2015 versus Jan- Sept 2014 and totaled $141.6 bln AMD or 298.8 mln USD (from which the foreign direct investments (FDI) totaled 125.1 bln AMD or 264.2 mln USD). The National Statistical Service of Armenia has told ArmInfo that investments grew despite significant drop of investments from Russia, Cyprus and Virgin Islands, which held the top three positions by investments in 2014.

As a result Russia, which was ranked first by its investments into Armenia's economy in 2014, now holds the fourth position, Cyprus is outside the top ten, and investments from the offshore Virgin Islands dropped to zero. Among the top five countries lending to Armenia Switzerland now holds the leadership with 44.6 bln AMD of total investments (8.4-fold y-o-y growth). Germany ranks next with 29.7 bln (14-fold y- o-y growth).  Luxemburg is the third with 28.2 bln AMD (8.4-fold y-o-y growth).  Russia is the fourth with 14.2 bln AMD (3-fold y-o-y decline).  UAE is the fifth with 10.04 bln AMD (61-fold y-o-y- growth).  France is very close to the top five by increasing its investments 7-fold y-o-y up to 9.8 bln AMD, next comes the USA, which provided total investments of 8.1 bln AMD with 20- fold y-o-y growth. Netherlands, Seychelles, Italy, Iran, Belize, Slovenia, Uzbekistan, Panama, Hungary and Argentina demonstrate moderate growth of investments.  Offshore Cayman Islands have entered the list of the countries, which make investments in Armenia's economy. 

Beside Russia, Virgin Islands and Cyprus, Great Britain, Ireland, Finland, Canada and Belarus are among countries that reduced their investments in Armenia. The investments from Norway, Denmark and Poland were zeroed.

Switzerland's investments were completely made in the mining field.  More than half of Germany's investments were also directed into this field of economy, while the rest was made in production of base metals. Luxemburg invested mainly in energy and gas supply sector.  Russia directed the main part of investments into production of medicine; energy and gas supply sector and production of base metals.  UAE invested in retail trade. France in telecommunications and water industry, the USA in electric and gas supply, construction, tourism, wholesale and retail trade.

Particularly the amount of total investments of 141.6 bln AMD (from which FDI totaled 125.1 bln AMD) was distributed as follows:  41,6% (22,9% of FDI) in mining industry, 26,3% (31,6% of FDI)-in electricity and gas supply, 12,7% (12,2% of FDI) - in production of base metals, 8,5% - in retail trade, 7,5% (8,4% of FDI) - in production of drinks, 5% (5,9% of FDI) - in telecommunications, 2-4% - in tourism, pharmaceutical industry, wholesale trade, crop farming and cattle breeding. (The average AMD/USD exchange rate was 473.71 AMD/$1 by September 30 2015).