Foreign investment in Russia declined 29.9%, year-on-year, in the first quarter to $17.3 billion, the country's top statistics body said on Wednesday, RIA Novosti reports.
Russia's State Statistics Service (Rosstat) said that loans accounted for a large part of foreign investment in Russia in the reporting period ($11.5 billion), with foreign direct investment totaling $5.6 billion and portfolio investment $123 million.
Most investment in the Russian economy was made by companies from Cyprus ($4 billion), the Netherlands ($3.4 billion), Great Britain ($3.3 billion) and Germany ($900 million), Rosstat said.
Russia's trade sector was the most attractive area for investment with $5.4 billion, while $4.2 billion was invested in manufacturing industries, $2.2 billion in mining and $1.9 billion in electricity, gas and water production and distribution, Rosstat said.