Ukraine ranked fifth among countries as sources of accumulated foreign direct investment (FDI) in Cyprus in 2024, according to the Foreign Direct Investment positions published by the Central Bank of Cyprus, reports NGO "Club of Experts".
The total accumulated inbound FDI in 2024 was estimated at €365.07 billion, with Ukraine accounting for €10.64 billion, or 3% of the total.
The largest sources of investment were Russia (€83.46 billion, 23%), the United States (€66.57 billion, 18%), Luxembourg (€32.10 billion, 9%), the United Kingdom (€17.17 billion, 5%), Ukraine (€10.64 billion, 3%), the Netherlands (€6.90 billion, 2%), and Israel (€5.10 billion, 1%).
Other mentioned jurisdictions include the Cayman Islands (€8.4 billion), other countries in the Middle and Near East (€7.6 billion), the Marshall Islands (€3.5 billion), and the British Virgin Islands (€2.4 billion).
The Central Bank of Cyprus also noted a decline in total accumulated FDI, from €489.4 billion in 2022 to €394.0 billion in 2023 and €365.07 billion in 2024. Russia’s share fell from €135.7 billion to €83.46 billion over the same period.
The Central Bank emphasized that these figures reflect FDI “positions” (accumulated equity and intracompany loans), not new investment flows into the real economy.
