The total stock of foreign direct investment (FDI) in Cyprus in 2024 amounted to €365.07 billion. Of this, €83.46 billion originated from the Russian Federation, representing 23% of the total, according to the Foreign Direct Investment positions published by the Central Bank of Cyprus.
Twenty percent of total FDI originates from the 27 EU member states, amounting to €74.36 billion. Among EU Member States, Luxembourg holds the largest share with €32.1 billion (9% of the total and 43% of EU FDI), followed by the Netherlands with €6.9 billion (2% of the total and 9% of EU FDI).
They are followed by the United States with €66.57 billion (18%) and the United Kingdom with €17.17 billion (5%). FDI from Ukraine amounts to €10.64 billion (3%).
FDI of €8.4 billion originates from the Cayman Islands, €2.4 billion from the British Virgin Islands, and €3.5 billion from the Marshall Islands.
In addition, €5.1 billion originates from Israel and €7.6 billion from other countries of the Near and Middle East.
Compared with previous years, the Central Bank’s data show a downward trend in FDI. From €489.4 billion in 2022, it declined to €394 billion in 2023 and further to €365 billion in 2024.
Of the €124 billion decrease between 2022 and 2024, €52 billion came from Russia (2022: €135.7 billion; 2024: €83.46 billion).
Compared with last year, the largest increase came from FDI from Luxembourg (€10 billion).
By contrast, the largest decreases were recorded from the United States (-€15.1 billion), Switzerland (-€14.7 billion), and the United Kingdom (-€10 billion).
According to the Central Bank of Cyprus, the publication of these data aims at revealing the true origin of Inward Foreign Direct Investment in Cyprus.
(Source: CNA)
