Saudi Arabia’s net FDI declines to SAR 11.7B in Q2 2024

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.

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).