Pakistan bagged $524.7 million of foreign direct investment in Jul-Oct 2023

Pakistan has received $524.7 million in foreign direct investment (FDI) during the first four months (July-October) of the current fiscal year 2023-24, according to the latest data released by the State Bank of Pakistan (SBP).

Overall, Pakistan fetched FDI amounted to $525 million in July-Oct of FY24 as against $490 million in corresponding period of last fiscal year (FY23), showing an increase of $35 million.

During July-Oct FY24, China remained the largest investor, followed by Hong Kong and the United Kingdom with net FDI of $158m, $106.5m, and $64.18m respectively.

Other important investors were Netherlands, U.S., and Switzerland with a net FDI of $55.8m, $34.6m, and $33.2m respectively during 4MFY24.

On a cumulative basis, within 4MFY24, total foreign investment increased by 17.81% YoY to $538.81m as compared to FDI of $457.34m reported in the corresponding period last year.

As per reported by State bank of Pakistan in FY15, Pakistan ranked 151 among 175 countries in terms of investment rate, much below its neighboring countries like India (32), Sri Lanka (36) and Bangladesh (40).

Pakistan’s arch rival India secured FDI’s worth of $29 billion in 2013, $35 billion in 2014, $44 billion in 2015, $44 billion in 2016, $39 billion in 2017, $42 billion in 2018, $50 billion in 2019, $64 billion in 2020, $44 billion in 2021 and $49 billion in 2022.