Foreign direct investment in Lithuania grows by almost 2 pct

Foreign direct investment (FDI) into Lithuania grew by 1.9 percent during the first half of this year, up to 13.104 billion euros (14.6 billion U.S. dollars), announced Lithuanian authorities on Thursday.

During the second quarter, cumulative FDI increased by 0.5 percent, data showed.

According to the Bank of Lithuania, the Lithuanian economy has seen two consecutive quarters of positive direct investment flows from abroad - 65.23 million euros in the second quarter and 251.93 million euros in the first quarter.

"Positive flows of FDI in Lithuania and Lithuania's FDI abroad reflect investment growth," the Bank of Lithuania and Statistics Lithuania said in a joint announcement.

During the second quarter, the growth in FDI was mainly contributed by Poland, Germany and Spain. The investment flows from these countries were 254.1 million euros, 75.8 million euros and 28.7 million euros respectively.

Meanwhile, Sweden, Estonia and Switzerland reduced their direct investment in Lithuania. During the second quarter, investment outflows from these countries were 182.7 million euros, 66.9 million euros and 61.8 million euros respectively.

Nevertheless, Sweden remains the largest foreign direct investor in Lithuania. At the end of the second quarter, 3.1 billion euros, or 24 percent of cumulative FDI in Lithuania, were invested by Sweden. Other largest investors to Lithuania are the Netherlands and Germany at 11.6 percent and 9.3 percent respectively.

According to the Bank of Lithuania and Statistics Lithuania, manufacturing and information and communication sectors have received the biggest direct investment flows from abroad.

In terms of cumulative FDI, Lithuania's financial and insurance activity sector received the largest investment from abroad at 27.4 percent of cumulative investment. Endit