Global foreign direct investment (FDI) continued to surge last year, rising by 34.3 percent over the previous year to US$1.23 trillion, according to projections by the UN trade and development agency released on Tuesday.
The buoyant private investment and takeover market reflected strong economic growth in many parts of the world and increased corporate profits, the UN Conference on Trade and Development said in a statement.
The growth in FDI inflows was especially strong in European nations and the US, as developed economies attracted the lion's share of investment with US$800.7 billion dollars, an increase of 47.7 percent over 2005.
UNCTAD predicted that a combination of forecast slower economic growth this year, as well as sharp exchange rate fluctuations and rising interest rates could lead to a slowdown in the fast growth in FDI experienced in recent years, especially in the traditional economic powers.
The preliminary data indicated that US retook its position of the largest host for FDI in the world last year with a 78.2 percent increase to US$177.3 billion.
Britain was second in UNCTAD's FDI table with US$169.8 billion, while other traditional EU industrial powerhouses experienced stronger growth in foreign investment than the new eastern European member states.
FDI inflows into France grew by 39 percent over the year to US$88.4 billion, and in Italy by 50.2 percent to US$30 billion.
Other regions of the world continued to draw FDI, according to the UNCTAD data, although there were sharp tail-offs in some major emerging economies.
Inflows to China eased last year with a decline of 3.3 percent to US$70 billion. FDI into South Korea plummeted by 92.6 percent to US$500 million, and by 62.9 percent in Indonesia to US$2 billion.
South Africa also failed to maintain its status with foreign investors, attracting inflows of US$3.7 billion, a drop of 42.7 percent, despite a continued trend for growth in Africa as a whole.
However, India, with an annual increase of 44.4 percent in inflows to US$9.5 billion mainly in manufacturing, Thailand (US$7.9 billion/114.7 percent) and Hong Kong (US$41.4 billion/15.4 percent) continued to register steady economic growth.
Turkey also maintained its three year run of success with foreign investors by attracting 76.3 percent more FDI (US$17.1 billion) last year.
UNCTAD underlined the growing role of China and India as new sources of investment worldwide, challenging the recent dominance of Asia's newly industrializing economies.
The UNCTAD figures on 76 economies were based on projections from data available at the beginning of November.
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