Russian foreign direct investments to Greece rose by 8.9% last year, compared with 2015, the Greek embassy in Moscow said in an annual report on bilateral economic and trade relations for 2016.
Russian investments to Greece totaled 683 million US dollars during 2016, or 0.2 pct of total Russial foreign direct investments abroad, according to data released by the central bank of Russia. Russian FDIs totaled 15 million US dollars in 2016 (12 million in 2015), or 0.1 pct of total Russian FDIs.
Russian investments to Greece are mainly focusing on the sectors of energy, financial, telecommunications, tourism, real estate and food.
The Russian central bank announced that Greek Foreign Direct Investments to the Russian Federation totaled 154 million US dollars by June 30, 2016, up 3.0 pct from 2015 (150 million). In 2016, Greek FDIs recorded a capital outflow of 240,000 US dollars. Greek investments in Russia are focusing on the sectors of food, textile and constructions. A total of 70 Greek-owned companies have established activities in Russia.
A declining trend in bilateral trade between Greece and Russia continued in 2016, but recorded signs of slowing down. The volume of trade fell 16.8 pct in value terms to 3.6 billion euros last year. However, Greek exports grew for the first time after three years of falling, rising 1.1 pct to 215.5 million euros, while imports from Russia fell 18 pct to 2.8 billion.
Greek exports to Russia are principally clothing, fair products, oils, tobacco, elevators, argile film, copper pipes, while imports from Russia are oils, natural gas, argile, copper and wheat.
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Photo Source: Wikimedia Commons Copyright: Zscout370 License: CC-BY-SA
Source: ANA-MPA
