The General Authority for Statistics today released the annual bulletin of Foreign Direct Investment (FDI) statistics for the year 2023 in the Kingdom. According to the bulletin’s results, the total balance of FDI reached 897.347 billion Saudi riyals by the end of 2023, marking a 13.4% increase compared to the end of 2022, when it amounted to 791 billion Saudi riyals.
The results revealed that the total inflows of FDI in the Kingdom amounted to 95.983 billion Saudi riyals in 2023, a decrease of 19% compared to 2022. It reached 96 billion Saudi riyals.
It also indicated that the total outflows of FDI from the Kingdom reached 10.47 billion Saudi riyals in 2023, a decrease of 44% compared to 2022.
The report showed that net FDI inflows in the Kingdom reached 513.85 million Saudi riyals in 2023. The manufacturing sector contributed the most to the total FDI balance at the end of 2023, with 259 billion riyals (29%). Moreover, this was followed by wholesale and retail trade, along with motor vehicle , at 135 billion riyals (15%), and financial and insurance activities at 112 billion riyals (12%).
FDI
FDI represents a long-term relationship and sustained interest by entities from outside the Saudi economy. Finally, it means a foreign investor, alone or with others, holds 10% or more of voting power in shareholders’ rights.
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