Foreign investment in the Canary Islands reaches 51 million euros by September

The Canary Islands recorded one of the lowest foreign investment levels in Spain at just €51 million between January and September 2023.

During the first nine months of 2023, the Canary Islands registered one of the lowest levels of foreign investment among Spain’s autonomous communities, totaling 51 million euros, as per the DataInvex of the Secretary of State for Trade’s Foreign Investment Register.

Spain’s foreign investment, excluding Foreign Securities Holding Entities (ETVE), decreased by 23.3%, amounting to 18,303 million euros. The investment has shifted from 23,874 million euros up to September 2022 (with 8,243 million in Q1, 8,117 million in Q2, and 7,514 million in Q3) to 18,303 million between January and September 2023 (9,966 million in Q1, 2,267 million in Q2, and 6,070 million in Q3).

The Community of Madrid leads in attracting foreign funds in the first nine months of the year, receiving 10,262 million euros, which is 56% of the total. It’s followed by the Valencian Community with 2,469 million euros; Catalonia with 2,087 million euros; the Basque Country with 1,494 million euros; Asturias with 497 million euros; Andalusia with 438 million euros; Murcia with 380 million euros; the Balearic Islands with 174 million euros; Aragon with 166 million euros; Castilla-La Mancha with 112 million euros; and Galicia with 100 million euros.

Foreign investment in the Canary Islands reaches 51 million euros by September

Regions with foreign investment below 100 million euros include Castilla y León (52 million euros), the Canary Islands (51 million euros), Extremadura (5.7 million euros), Navarre (3.7 million euros), La Rioja (939,000 euros), Cantabria (753,000 euros), and Ceuta and Melilla (66,000 euros).

In terms of sectors, ‘extraction of crude oil and natural gas’ attracted the most foreign investment, reaching 3.4 billion euros, followed by ‘health activities’ with 1.814 billion euros, and ‘telecommunications’ with 1.762 billion euros.

Luxembourg was the leading immediate source country of investment with 8.149 billion euros, followed by Germany (2.008 billion euros), the Netherlands (1.732 billion euros), France (1.362 billion euros), and the United Kingdom (1.277 billion euros).

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