Foreign direct investment last year was the lowest in seven years, according to figures released by the National Statistics Office.

Inflows were estimated at €371.2 million, with more than 80 per cent coming from the EU.

This contrasts with the previous year’s inflows of €789.5 million, which the NSO said was characterised by the extraordinary net inflow of €758.7 million from the Australia and Oceania region.

However, since 2005, yearly inflows by far exceeded the amount registered last year.

The slowdown contributed to a marginal increase in the stock of foreign direct investment, which was estimated at €12.5 billion.

EU member states remained the largest contributors of foreign investment with €8.9 billion, or 71.0 per cent of the total.

Germany accounted for 56.3 per cent of this amount.

Outward direct investment for 2011 remained at the previous year’s level, estimated at €1.3 billion.