The total capital imported in the third quarter was recorded at $4.145.1 billion, more than double the inflow in the second quarter of this year, representing an increased value of 147.5% on a year on year basis, according to the report released on Monday by the National Bureau of Statistics (NBS).
This inflow of capital in Q3 2017 is the first time since the beginning of 2015 that capital hit over $4.00 billion in a quarter. The boom in capital importation in Q3 2017 was mainly driven by significant growth in both Portfolio Investment and Other Investment.
Capital Importation can be divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment and Other Investments, each comprising various sub-categories. Portfolio Investment, which was recorded at $2,767.4 million in the third quarter of 2017, remained the largest component of capital import and contributed to 67% of the total amount.
This component expanded faster than the other two main categories with a year on year growth rate of 200.7 percent. Foreign Domestic Investment recorded $117.6 million which fell by 65.5% year on year while Other Investment increased by 124.55% compared to 2016 Q3. Although Other Investment in 2017 Q3 more than doubled the value in the third quarter of 2016 from $516.2 million to $1,260.1 million, it remained about 30% of the total capital importation.
HOPE MOSES-ASHIKE
