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Foreign investment in Russia shrinks
RBC, 21.05.2008, Moscow 17:25:24.Foreign investment in the Russian economy amounted to $17.3bn in the first quarter of 2008, down 29.9 percent compared to the same period a year earlier, Russia's Federal State Statistics Service reported today. Specifically, direct investment dropped 42.8 percent to $5.585bn, portfolio investment went down 37.5 percent to $123m, and other investments fell 21.3 percent to $11.547bn. Wholesale and retail trade, as well as the repair of vehicles, household goods, and personal items accounted for the greatest amount of investment ($5.473bn). Meanwhile, foreign capital accrued in Russia jumped 45.9 percent to $221bn as of late March 2008. Cyprus, the Netherlands, the UK, and Germany were Russia's main investors in Q1 2008.
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