Riyadh – Sharikat Mubasher: The foreign direct investment (FDI) stock by the end of 2023 reached SAR 897 billion ($238.8 billion), achieving a growth of 13.4% compared to 2022, which was SAR 791 billion.

According to a report issued by the General Authority for Statistics (GASTAT), the inflows of foreign direct investment recorded a decrease of 19% in 2023 compared to 2022, reaching SAR 96 billion in 2023, while the outflows of foreign direct investment recorded 10 SAR billion with a decrease of 44% compared to 2022.

GASTAT revealed that Manufacturing industries achieved the largest contribution to the total foreign direct investment stock at the end of 2023, with a value of SAR 259 billion, accounting for 29% of the total stocks. This was followed by wholesale and retail trade activities, and repair of motor vehicles and motorcycles, with a stock of SAR 135 billion, contributing 15%.

Moreover, financial and insurance activities recorded a stock of SAR 112 billion, contributing 12%.

The report also revealed that the United Arab Emirates achieved the highest foreign direct investment stock with a value of SAR 152 billion in 2023, followed by Luxembourg with a stock of SAR 102 billion, and France with a stock of SAR 65 billion.