Saudi Arabia’s Foreign direct investment flows amounted to about $33 billion in 2022

Foreign direct investment (FDI) flows in Saudi Arabia during 2022 amounted to about 122 billion riyals (32.52 billion dollars), according to the Saudi Ministry of Investment.

“The updated figure comes within the framework of a new methodology for accounting and publishing data adopted by the kingdom last October and approved by the International Monetary Fund,” according to the Saudi News Agency.

This new figure puts Saudi Arabia in tenth place among the economies of the G20 in terms of attracting foreign direct investment flows during 2022, according to a statement by the Saudi Ministry of Investment.

In order to reach the updated figures, Saudi Arabia used a new methodology and analyzed the data of more than 10 thousand foreign companies from more than 70 thousand financial lists, including the years from 2015 to 2022.

According to the new methodology, the balance of foreign direct investment in the Kingdom reached 775 billion riyals (207 billion dollars) in 2022, which makes Saudi Arabia rank 16th among the economies of the group of twenty countries, a figure adjusted by reduction compared to one trillion riyals (269 billion dollars) according to what was previously published on the basis of the previous methodology.

“Despite the impact of the COVID-19 pandemic, the updated data showed a positive and upward increase in the balance and flows of foreign direct investment in the kingdom since the launch of Saudi Vision 2030,” the Ministry of Investment statement said.