Pakistan records $358.84 million FDI inflow in April

WEB DESK: Foreign Direct Investment (FDI) into Pakistan experienced a remarkable surge, marking a substantial increase of 172 per cent in April 2024 compared to the corresponding period in the previous fiscal year.

According to data released by the State Bank of Pakistan (SBP) on Friday, FDI inflows reached $358.84 million, a notable climb from $131.9 million in April of FY23.

Furthermore, on a month-on-month basis, April witnessed a significant upswing of 39 per cent in FDI compared to March 2024, where the inflow amounted to $258.04 million. This surge marks the highest monthly FDI influx in 51 months, reflecting growing investor confidence in Pakistan’s economy.

The cumulative FDI for the first ten months of FY24 stands at $1.46 billion, showcasing a commendable rise from the $1.35 billion recorded during the same period in FY23.

Delving into the specifics, China emerged as the leading investor in Pakistan in April 2024, injecting a substantial $177.37 million into the economy.

Following closely behind, the United Arab Emirates (UAE) and Canada contributed $51.93 million and $51.89 million, respectively, during the same period.

Sector-wise analysis reveals that the power sector attracted the highest FDI inflows during April 2024, amounting to $194 million. This underscores the sector’s attractiveness to foreign investors and its pivotal role in Pakistan’s economic development.

The surge in FDI reflects positively on Pakistan’s economic landscape, signaling increasing investor confidence and potentially paving the way for further economic growth and development initiatives.

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