Argentina’s Foreign Investment Dropped 30% in First Half of 2011
Foreign direct investment in Argentina fell 30 percent in the first six months of this year, while the whole of Latin America and the Caribbean received 54 percent more, the United Nations Economic Commission for Latin America said in a report on its website.
Foreign investment in Argentina fell to $2.4 billion in the first half of 2011 from $3.5 billion a year earlier, the Santiago-based commission said. Investment fell in 5 out of 18 countries in Latin America and the Caribbean, the report showed. Investment fell 31 percent in Paraguay, 18 percent in Mexico, 4 percent in Uruguay and 14 percent in Chile.
Brazil received 157 percent more direct investment than in the first half of last year, with a total of $44.1 billion, while in Colombia it increased 91 percent to $7 billion, Cepal said.
“The increase in FDI inflows is due to the stability and economic growth in most of the countries and the high prices of raw materials, which continue to attract investment in mining and hydrocarbons, particularly in South America,” the report said.
To contact the reporter on this story: Eliana Raszewski in Buenos Aires at eraszewski@bloomberg.net
To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net
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