Saudi Gazette report

RIYADH — The value of net foreign direct investment (FDI) flows into Saudi Arabia recorded a jump of 5.6 percent, reaching SR9.5 billion ($2.5 billion) during the first quarter of 2024, compared to SR9 billion ($2.3 billion) in the same quarter of 2023.

According to data from the General Authority for Statistics (GASTAT), the value of foreign direct investment flows into the country’s economy amounted to about SR17 billion ($4.5 billion) during the first quarter of 2024, an increase of 0.6 percent, compared to SR16.9 billion during the first quarter of last year.

The value of foreign investment flows outside the Kingdom’s economy declined to about SR7.5 billion ($1.9 billion) during the first quarter of 2024, a decrease of 5.1 percent compared to the first quarter of 2023, which amounted to SR8 billion ($2.1 billion), the GASTAT data showed.