The Bank of Estonia said the sum total of direct investments in Estonia last year was 5.1 million kroons (329 million euros), far less than the 9.4 million kroons the year before.
The net inflow of direct investments was 3.1 million kroons compared with 5.9 million in 2001.
The Bank of Estonia said an increase in the retained profit accounted for the biggest share - 62 percent - of direct investments, testifying to the continued profitability of investments in the country.
The fall in direct investments was mainly affected by a decline in the inflow of stock capital and loan capital.
The majority of direct investments were from Finland and Sweden, while the most popular sectors of the economy to invest in were finance and shipments, warehousing and communication.
Estonian residents' investments in foreign countries totaled 2 million kroons, compared with 3.5 million kroons the year before. Most of the investments were in Lithuania, Cyprus and Latvia, while the most popular sectors for capital expansion were also finance, shipping, warehousing and communications.