DYNAMICS AND STRUCTURE OF GLOBAL FOREIGN DIRECT INVESTMENT FLOWS

Анотація

The article examines the inflow of foreign direct investment around the world, distinguishing different groups of countries. It was found that global FDI flows tend to increase in all regions of the world, despite the difficult year 2020 – the period of COVID-19, with a significant decrease in developed countries. The countries of Europe and North America contributed the most to the global decline in FDI: more than 100% and 46%, respectively. However, the decline was very uneven across regions, with Latin America and the Caribbean down 37%, Africa down 18% and developing Asia down 4%. FDI in countries with transition economies decreased by 77% compared to 2019 to $13 billion. USA. After a significant recovery in 2021, global foreign direct investment fell by 12% in 2022 to $1.3 trillion. The reason for this was the global crises that overlapped each other during a certain period of time. The decline was felt mainly in advanced economies, where FDI fell by 37% to $378 billion. We find that despite a slowdown in global FDI flows in 2022, new investment showed moderate growth. In the member countries of the Organization for Economic Cooperation and Development, FDI inflows fell by 26%, the main reason was the withdrawal of investments from Luxembourg (with the exception of Luxembourg, FDI flows in 27 European countries increased by 22%). However, this decline was partially offset by strong growth in Switzerland as well as the United Kingdom. Consequently, FDI flows to the United States decreased by 21% in 2022 and increased in other countries, including Australia, Italy and Sweden. If we single out some regions, we can conclude that the inflow of direct foreign investment to the G20 countries has decreased by 15%. While they increased by 7% in the G20 OECD countries, FDI fell by 38% in the non-OECD G20 countries, mainly due to declines in China and to a lesser extent in South Africa, compared to their peaks levels recorded in 2021. Foreign direct investment flows in Brazil increased by 68%. According to the UNCTAD World Investment Report 2023, most economies in the region have recovered FDI inflows and only a few have experienced a downturn. The largest recipients of foreign direct invest- ment in the first quarter of 2023 were the USA, Brazil and China. The main sources of FDI outflows around the world were the United States of America, Germany and China.

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