S. Arabia’s FDI net inflows drop by 24%

Saudi Arabia recorded a net inflow of foreign direct investment (FDI) of 16.0 billion Saudi riyals (SAR) during the third quarter of 2024, marking a 24 per cent decline compared to the 21.1 billion SAR achieved in the same quarter of 2023. However, the figure represented a significant growth of 37 per cent compared to the 11.7 billion SAR recorded in the second quarter of 2024.

The total FDI inflows for the third quarter of 2024 amounted to 18.0 billion SAR, a 21 per cent drop from the 22.6 billion SAR reported in the corresponding period of the previous year. The inflows also decreased by 8 per cent quarter-on-quarter, down from 19.4 billion SAR in the second quarter of 2024.

FDI outflows stood at 2.0 billion SAR in the third quarter of 2024, reflecting a 27 per cent increase compared to the 1.6 billion SAR recorded in the third quarter of 2023. However, this was a sharp 74 per cent decline from the 7.8 billion SAR outflows reported in the second quarter of 2024.

The figures underscore fluctuations in FDI performance across the Kingdom, with notable quarter-on-quarter growth in net inflows despite year-on-year (YoY) declines.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser