Total foreign investments into the real sector of the Armenian economy (net flows resulting from the difference between the net inflows and outflows of foreign investment) in the first six months of 2015 amounted to 81.9 billion drams (about $171.5 million), an increase of 6% or 4.7 billion drams compared to the same period last year, according to a study conducted by the economy ministry titled “Dynamics of Direct Foreign Investments in Armenia, the Region and the World,” Arka News Agency reported. However, net foreign direct investment in the first half amounted to 30.7 billion drams, a decline of 58% from the year before, according to the study. The reduction of FDI in the reporting period was due to the sale of its 20% share by the government in ArmRosGazprom (now Gazprom Armenia) national gas distribution company. The largest investors in Armenia during the period were: Germany–$23.2 million, Cyprus–$22.9 million, UAE–$19.6 million, Virgin Islands–$17.7 million, Argentina–$16.3 million and Canada–$12.7 million.
