Net inflows of foreign direct investment (FDI) in Saudi Arabia dropped to 11 billion Riyals in the third quarter of 2023, a 10% decrease compared to the previous quarter, according to data released today by the Saudi Arabian General Authority for Statistics.
The data did not specify the comparable period from the previous year, but the authority mentioned in a separate report that net inflows during 2022 reached 105 billion Riyals, with a growth rate of 21%.
This is the first time the authority has published data on foreign direct investment after adopting its calculation methodology in October last year.
Data from the previous year showed that manufacturing industries had the highest contribution to the total stock of foreign direct investment, with a value of 239 billion Riyals and a contribution of 31%, followed by transportation and storage activities, and wholesale and retail trade activities.
