The National Bureau of Statistics has today, revealed that the country’s foreign capital inflows fell by 78% in the second quarter of 2020.

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It said the current figure was $1.29bn, a stark fall from the $5.85bn figure of Q1.

In its capital importation report for Q2 2020, NBS said the total value of capital importation into the country in the period represented a decrease of 77.88 per cent compared to Q1 2020 and 78.60 per cent in Q2 2019.

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It said foreign direct investment, which accounted for 11.47 per cent of the total capital imported into the country, fell by 30.65 per cent to $148.59m from $214.25m in Q1 2020.

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According to the report, portfolio investment, which accounted for 29.76 per cent, plunged by 91.06 per cent to $385.32m from $4.31bn in Q1.

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The statistics office said the largest amount of capital importation by type was received through other investments (58.77 per cent), declining to $761.03m from $1.33bn in Q1.

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