Net foreign direct investment (FDI) in Saudi Arabia declined in Q2 2024 by 8% year-on-year (YoY) to SAR 11.7 billion, according to the latest report by the General Authority for Statistics (GASTAT).
On a quarterly basis, net FDI surged by 23% compared to Q1 2024.
FDI inflows amounted to SAR 19.4 billion by the end of Q2 2024, up by 0.1% YoY. Meanwhile, the value of foreign investment outflows reached nearly SAR 7.76 billion, a rise of 14% YoY.
FDI Flows (SAR bln) | |||
Period | Inflows | Outflows | Net |
Q1 2023 | 16.92 | 7.90 | 9.02 |
Q2 | 19.43 | 6.80 | 12.63 |
Q3 | 16.62 | 5.27 | 11.36 |
Q4 | 19.38 | 6.19 | 13.19 |
Q1 2024 | 16.97 | 7.50 | 9.47 |
Q2 | 19.44 | 7.76 | 11.68 |
GASTAT defines FDI as investment that reflects a long-term relationship and permanent interest of economic entities located in a non-Saudi economy. This means that the foreign investor, or a group of foreign investors, owns 10% or more of the voting power of shareholders, giving them the ability to control or influence decision-making to serve their interests.
The FDI survey covers all major economic activities according to the National Classification for Economic Activities (ISIC4).