Saudi Gazette report

RIYADH — The value of net foreign direct investment inflows in the third quarter of 2024 amounted to SR16 billion, and this figure marks an increase of 37 percent compared to the second quarter of this year when it stood at SR11.7 billion.

The net FDI during the third quarter of the current year recorded a decrease of 24 percent compared to the same quarter of last year when it reached SR21.1 billion, according to the statistical data published by the General Authority for Statistics (GASTAT) on Monday.

The value of foreign direct investment flows into the Saudi economy amounted to about SR18 billion during the third quarter, a decrease of 21 percent compared to the third quarter of 2023 when it recorded SR22.6 billion and a fall of 8 percent compared to the second quarter of the current year, reaching SR19.4 billion.

In its report titled "Foreign direct investment for the third quarter of 2024," GASTAT stated that foreign investment flows out of the Kingdom's economy amounted to SR2 billion, an increase of 27 percent compared to the third quarter of 2023 when it reached SR1.6 billion, while it recorded a decrease of 74 percent compared to the previous quarter of this year, when it recorded SR7.8 billion.

Foreign direct investment is defined as an investment that reflects a long-term relationship and a permanent interest in economic entities residing in an economy other than the Saudi economy.