JAKARTA: Foreign direct investment into Indonesia dropped 6.95% in the second quarter from a year earlier to 202.2 trillion rupiah ($12.3 billion), investment ministry data showed on Tuesday, marking the deepest contraction in five years.
The data excludes investment in the financial and oil and gas sectors.
The fall in FDI was biggest since a 9.2% annual fall in the first quarter of 2020, according to data from LSEG.
Including domestic sources, Southeast Asia’s largest economy saw a total of 477.7 trillion rupiah worth of direct investment in the quarter, creating 665,764 jobs, the ministry said.
Some of the biggest beneficiaries of FDI in the April-June period were the base metal, mining, services, transportation, warehouses and telecommunication industries, the ministry said.
Singapore, Hong Kong and China were the biggest sources of FDI in the second quarter. ($1 = 16,385 rupiah) – Reuters
