MOSCOW. Aug 12 (Interfax) - Russian investments abroad came to $10.046 billion in the first half of 2002, still over and above the amount invested from abroad into Russia, which totaled $8.368 billion, the State Statistics Committee said on Monday.
Russian investments in other countries have exceeded investments in Russia itself for a number of years. However the Russian investments abroad are not cumulative, but tend to be short-term in nature, while foreign investments in Russia tend to be long-term and have a more lasting impact on the economy.
By the end of June, 2002 only a third ($3.809 million) of the money invested by Russia abroad during the first half of 2002 actually remained abroad, however the stock of foreign investments in Russia's own economy was $38.15 billion at the end of the half.
Cumulative Russian investments abroad at the end of the first half of 2002 were $2.414 billion, which included $159 million in portfolio investments and $1.236 billion in other investments. Most of the overall figure had accumulated in Belarus ($581 million) and Iran ($576 million). During the half, the biggest new investments abroad were $5.556 billion in the economy of the United States and $2.136 billion in Cyprus.
Russian investments abroad grew by 54.9% year-on-year in the first half of 2002.