According to the Organisation for Economic Cooperation and Development (OECD), Ireland was the largest recipient of foreign direct investment in the world in the first half of this year.
In six months, Ireland received $75 billion, which is more than China ($68 billion) and the U.S. ($62 billion).
FDI levels fell in the first half of this year due to the pandemic. Investment in OECD countries fell by 74% in the second half of 2019. However, foreign investments to Ireland were just 10.7% lower.
The amount of investment from OECD countries dropped by 43% overall. This is because they have taken back or withdrawn some of the previous investments.
Outward investment from Ireland in the first half of the year was $15 billion, compared to $42 billion in the second half of 2019.
According to OECD, when companies reinvested less of their income than last year, earnings on internal investments fell by 23%.
Meanwhile mergers and acquisitions plummeted 11% in advanced economies and operation stayed subdued in the third quarter of this year.