Saudi Arabia’s overall foreign direct investment (FDI) balance increased by 13.4% from SR791 billion at the end of 2022 to SR897.34 billion at the end of 2023.
According to the Saudi Press Agency, the General Authority for Statistics (GASTAT) made this revelation in its annual foreign direct investment statistics bulletin for 2023 on Wednesday.
A total of SR10,470 million was spent on foreign direct investment (FDI) in the Kingdom in 2023, a 44% reduction from 2022. According to the data, FDI inflows into the Kingdom totalled SR513.85 million in 2023.
By the end of 2023, manufacturing operations accounted for SR259 billion, or 29 percent of the total balance of FDI, which was the largest contribution to the balance. The wholesale and retail trade and repair of motor vehicles and motorcycles came next, with SR135 billion and a 15 percent contribution rate. Financial and insurance operations came next, with SR112 billion and a 12 percent contribution rate.
From SR791 billion at the end of 2022 to SR897.34 billion at the end of 2023, Saudi Arabia’s overall foreign direct investment (FDI) balance increased by 13.4%.
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