The General Authority for Statistics has revealed a significant rise in the net inflows of foreign direct investment (FDI) into Saudi Arabia. During the first quarter of 2024, the increase was calculated to be 9.5 billion riyals, marking a 5.6% growth compared to the corresponding quarter in 2023, where the figures stood at 9 billion riyals.
Further details indicated that the total value of incoming FDI to the Saudi economy reached approximately 17 billion riyals in the initial quarter of 2024. This represents a modest climb of 0.6% when juxtaposed with the first quarter of the previous year, which recorded a value of nearly 16.9 billion riyals.
Conversely, the authority noted a decrease in the outflow of FDI from the Saudi economy. The outflow amounted to about 7.5 billion riyals in Q1 of 2024, which is a 5.1% reduction from the same period in 2023, where the total was about 8 billion riyals.
