RIYADH — Saudi Arabia's total foreign direct investment (FDI) balance recorded an increase of 13.4 percent, reaching SR897.34 billion at the end of 2023, compared to SR791 billion at the end of 2022. This was revealed in the annual foreign direct investment statistics bulletin for the year 2023, released by the General Authority for Statistics (GASTAT) on Wednesday, the Saudi Press Agency reported. Total outflows of FDI in the Kingdom amounted to SR10,470 million in 2023, a decrease of 44 percent compared to 2022. It showed that the net inflows of FDI in the Kingdom amounted to SR513.85 million in 2023. The manufacturing activities achieved the highest contribution to the total balance of FDI at the end of 2023, with a value of SR259 billion and a contribution rate of 29 percent of the total balances. This was followed by wholesale and retail trade and repair of motor vehicles and motorcycles with a total of SR135 billion and a contribution rate of 15 percent, and then by financial activities and insurance activities with a balance of SR112 billion and contribution rate of 12 percent.
