Ireland was the single biggest recipient of foreign direct investment in the world in the first half of the year, according to the Organisation for Economic Cooperation and Development.

Covid-19 has seen FDI levels plummet in the first half of the year, with investment into OECD countries down 74% on the second half of 2019.

However foreign investments to Ireland were just 10.7% lower, with the country recieving $75 billion in the six month period.

That is more than the amount received by China ($68 billion) and the US ($62 billion).

The amount of investment coming from OECD countries was down 43% overall, though the level leaving Ireland fell by far more, largely due to some previous investments being reversed or withdrawn.

Outwards investment from Ireland stood at -$15 billion in the half year, compared to $42 billion in the second half of 2019.

Overall the OECD said that earnings on inward investments fell by 23% as firms reinvested less of their earnings than last year.

Meanwhile mergers and acquisitions fell by 11% in advanced economies, with activity remaining subdued in the third quarter of this year.