The flows of foreign direct investment have dropped to a third of the amount seen in 2013, according to a National Statistics Office report on 2017.

The report released on Wednesday shows that there was €2.8 billion of new FDI in 2017, down from €9 billion in 2013.

The decrease was seen most dramatically in the category of financial and insurance activities, which had levelled off at around €8.5 billion a year and then dropped in 2015, 2016 and 2017 to reach €2.7 billion last year.

Manufacturing investment has been paltry by comparison, with just €101 million in 2013, dropping to €3.4 million in 2017.

There was, however, an increase in the category of transportation, accommodation and real estate activities, which took off in 2015.

The NSO also showed that the decrease was mostly due to reductions in capital, with reinvested earnings fluctuating but not making a significant impact.

The stock of FDI reached €170 billion in 2017, up from €133 billion in 2015.

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