Russian foreign direct investment fell 42.8 percent in the first quarter of 2008. Direct investment totaled $5.59 billion, while total foreign investment, including credits and flows into the securities markets, was $17.3 billion, or 30 percent less than in the first quarter last year, the Moscow-based Federal Statistics Service said today. Foreign investment in stocks and bonds fell 44 percent to $107 million, it said.
Foreign direct investment doubled last year to $27.8 billion as economic growth fueled a boom in consumption and attracted investors. Russian GDP rose 8.1 percent last year, the highest since 2000.
The retail industry, including automotive and household good repairs, received the largest amount of investment, according to the Statistics Service. Foreign investors put $5.47 billion into Russian industry, including stock and bond purchases, the statistics office said.
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