(Reuters) – Colombia’s foreign direct investment (FDI) fell 0.92 percent in the first nine months of 2013 compared with the same period a year earlier due to lower inflows to oil and mining, central bank data showed on Tuesday.
The decline came despite larger investment in local stocks and debt.
FDI fell to $12.7 billion in the January-September period, down from $12.8 billion a year earlier, the data showed.
In full-year 2012, Colombia’s $330 billion economy attracted $16.7 billion in direct investment from overseas, an amount the central bank does not see as achievable this year due to lower commodities prices and a weaker global economy.
Foreign investments destined for the oil and mining sectors fell 1.1 percent to $10.3 billion in the first three quarters of 2013, the bank’s data showed. In contrast, investments in shares and debt doubled to $4.14 billion.
Improved security has made investors more confident about investing in the Andean nation, where a decade-long U.S.-backed offensive has diminished the ranks of the country’s two leftist guerrilla groups, the FARC and the smaller ELN, which have been fighting the government for five decades.