Overseas direct investment amounted to 12.62 billion U.S. dollars in the January-March quarter, down 15.3 percent from a year earlier, according to the Ministry of Economy and Finance.
It marked the first decline in two years since the first quarter of 2018. Companies reduced overseas investment as the coronavirus pandemic raised worry about the global economic slump.
Direct investment in the overseas manufacturing sector tumbled 55.5 percent over the year to 2.6 billion dollars in the first quarter, and investment in the finance and insurance industry dropped 31.3 percent to 3.6 billion dollars.
Investment in the real estate industry advanced 23.9 percent to 2.02 billion dollars due to a big property investment in North America and Europe.
Overseas direct investment fell sharply in March, after recording little change in January and February, according to the ministry.
Direct investment in the United States declined 7.1 percent to 3.58 billion dollars in the cited quarter.
Those to Canada, the Cayman Islands, Singapore and Vietnam reached 1.37 billion dollars, 1.08 billion dollars, 860 million dollars and 790 million dollars respectively.
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