2022 was the best year for the foreign direct investment (FDI). The country received 17,048 million dollars, which represents an increase of 81.7 percent compared to what entered on behalf of investors residing abroad in 2021. However, there are already signs of a slowdown.
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Although direct foreign investment reached 4,897 million dollars in the first quarter and rose to 5,078 million dollars in the second, it fell to 3,164 million dollars in the third and in the fourth it was at 3,909 million dollars.
Still, the annual figure is the highest since the Bank of the Republic has records. Before the pandemic, in 2019 foreign direct investment reached 13,989 million dollars; In 2020, in full confinement due to covid-19, it fell to 7,459 million dollars and in 2021 it stood at 9,381 million dollars.
Sectors with the highest investment
The branch of the financial services It was the one that contributed the most, with 5,530 million dollars, which represents 130 percent more than in 2021, when the figure reached 2,402 million dollars. In the first quarter, 2,102 million dollars entered for this sector; in the second, 1,866 million dollars; in the third it fell to 546 million dollars and in the fourth, 1,016 million dollars.
He is followed by oil sector, with 2,777 million dollars, that is, 278 percent more than in the previous year. This had a different behavior since in the first quarter only 525 million dollars entered and the best period was the second quarter, with 1,068 million dollars. Behind it is the branch of transportation, storage and communications, with 1,812 million dollars, 60 percent more than in 2021.
(Plus: Ecopetrol earnings of $33.4 billion in 2022, the highest in its history)
The oil sector drives foreign investment.
The exploitation of mines and quarries also appears, with 1,590 million dollars (+578 annual percent); commerce, restaurants and hotels, with 1,506 million dollars (-57 percent); the manufacturing industry, with 1,499 million dollars (-13 percent); and electricity, gas and water, with 979 million dollars (-6 percent).
In this last sector, it stands out that although in the second quarter it reached 335 million dollars and in the third, 261 million dollars, in the fourth it fell to 194 million dollars, amid announcements about the sector.
The construction branch also received 559 million dollars in 2022 (+88 percent); community, social and personal services, 532 million dollars (-8 percent), and agriculture, another 263 million dollars (-6 percent).
current account deficit
By components of the balance of payments, the current deficit of the country it totaled 21,446 million dollars in 2022, while a year earlier it was 17,981 million dollars. Therefore, the deficit balance of the current account increased by 3,465 million dollars.
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During the fourth quarter, the current account of the balance of payments increased a deficit of 4,987 million dollars, lower by 1,104 million dollars than the previous quarter. This behavior is explained by the reduction of the goods trade deficit and lower net outflows of factor income.
