Foreign investment in Spain fell more than 26% in the first half, to 12,000 million
MADRID, 24 Sep. (EUROPA PRESS) -
The Bank of Spain has indicated that it is foreseeable that the path of investment recovery will continue, although at a slower pace than in the second quarter and has anticipated that its dynamism would have slowed down in the third quarter.
From the organization directed by Pablo Hernández de Cos they point out that for example, although the dynamism of business investment could be favored both by the deployment of projects linked to the European funds program 'Next Generation EU' (NGEU) and by the availability part of the companies' own resources - after the recovery of the gross operating surplus - this would be burdened, to a certain extent, by the tightening of financial conditions during recent quarters and by the recent slowdown in economic activity.
In light of these factors and the most recent dynamics in the residential construction sector - for example, in terms of the construction execution indicator, which has maintained a downward path in recent months - it could also be expected that Investment in housing will show a relatively modest growth path in the coming quarters.
According to the latest data from the DataInvex Foreign Investment Registry of the Secretary of State for Commerce, foreign investment in Spain, without Foreign Securities Holding Entities (ETVE), fell by 26.6% in the first six months of 2023 compared to the same period last year, and has reached a volume of 11,996 million euros.
Specifically, foreign investment in Spain has gone from 16,352 million euros in the first half of 2022 (8,240 million in the first quarter and 8,111 million in the second quarter) to 11,996 million between January and June 2023 (9,921 million in the first quarter and 2,074 million in the second quarter).
The Community of Madrid is the region that leads in attracting funds from abroad in the first half of the year, with 7,579 million, 63.2% of the total.
The sector that received the most foreign investment during the first half of the year was 'crude oil and natural gas extraction', with 3.4 billion investment. This is followed by investments in 'health activities', with 1,758 million, and 'telecommunications', with 1,669 million.
Regarding the immediate country of origin of the investment, Luxembourg stands out, with 7,447 million, followed by the Netherlands, with 1,039 million. The investment of the rest of the countries is below 1,000 million.