MOSCOW: The weaker investment came as Western sanctions over Ukraine and sharp falls in the price of oil slowed Russian economic growth to 0.6 percent in 2014.
Overseas investment by Russian companies fell to $56 billion last year, a 40 percent decline from 2013, even as China led a wider boom in foreign direct investment from emerging economies, according to a report by the United Nations Conference on Trade and Development (UNCTAD) released Monday.
The figure means that Russia last year was the world’s sixth-largest foreign direct investor, equal with France, according to UNCTAD. In 2013, Russia placed fourth, with its companies investing $95 billion overseas.
The weaker investment came as Western sanctions over Ukraine and sharp falls in the price of oil slowed Russian economic growth to 0.6 percent in 2014.
While Russia slipped down the rankings, foreign direct investment from China and Hong Kong boomed to $266 billion last year, an increase of 38 percent from the $193 billion recorded by UNCTAD in 2013.
Total foreign investment by companies in emerging economies rose by 30 percent to almost half a trillion dollars last year, making up 36 percent of global foreign direct investment, the report said. The bulk of this, $440 billion, came from developing Asia, UNCTAD said.
The United States remained the largest source of overseas investment last year, with its companies investing $337 billion, according to UNCTAD.
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