Saudi Arabia sees 5.6% rise in FDI in Q1 2024 

According to the latest data from the General Authority for Statistics, the net flow of FDI reached SR9.5 billion ($2.53 billion) in the first three months of this year, up from SR9 billion recorded during the same period last year. Shutterstock
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Updated 30 June 2024
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Saudi Arabia sees 5.6% rise in FDI in Q1 2024 

RIYADH: Saudi Arabia saw a 5.6 percent increase in net flow of foreign direct investment in the first quarter of 2024 compared to the previous year, the official data showed. 

According to the latest figures from the General Authority for Statistics, the net flow of FDI reached SR9.5 billion ($2.53 billion) in the first three months of this year, up from SR9 billion recorded during the same period last year. 

This growth underscores Saudi Arabia’s continuing appeal to international investors. These figures reflect the Kingdom’s ongoing efforts to enhance its investment environment and support economic growth, in line with the objectives of Vision 2030. 

FDI inflows during the first quarter amounted to around SR17 billion, marking a growth of 0.6 percent from the SR16.9 billion recorded in the first quarter of 2023. This moderate increase highlights the sustained confidence of foreign investors in the Saudi market. 

Conversely, FDI outflows during the first three months of this year totaled about SR7.5 billion, representing a decrease of 5.1 percent compared to SR8 billion in the first quarter of 2023. This decline in outflows indicates a stronger retention of foreign capital within the Kingdom.

In accordance with the goals set out in the National Investment Strategy and Vision 2030 targets, Saudi Arabia has enacted substantial legal, economic, and social reforms aimed at stimulating inflows of foreign direct investment.  

Launched in 2021, NIS looks to develop comprehensive investment plans across various sectors, such as manufacturing, renewable energy, and transport as well as logistics, tourism, digital infrastructure, and healthcare. 

Furthermore, it aims to increase annual FDI flows to over $103 billion and boost annual domestic investment to more than $453 billion by 2030.  

According to the World Investment Report released earlier this month by the UN Conference on Trade and Development, Saudi Arabia attracted $65.1 billion in FDI in the three years post-pandemic until 2023, placing it among West Asia’s top recipients.  

The Kingdom’s FDI outflows totaled $73.1 billion over the same period, with $16 billion recorded last year alone. This ranks Saudi Arabia among the top 20 global economies for FDI outflows, placing 16th.   

The UN report also noted a 55 percent annual increase in the value of international project finance deals in the Kingdom in 2023, reaching $22 billion.   

Last year, the nation witnessed 19 deals, marking a 90 percent growth compared to the previous year.   

Additionally, Saudi Arabia saw 389 announced greenfield projects in 2023, totaling $29 billion, reflecting a 108 percent annual increase in value. 


Jordan’s exports to Syria jump 341% in first 10 months 

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Jordan’s exports to Syria jump 341% in first 10 months 

RIYADH: Jordan’s national exports to Syria rose to 203 million Jordanian dinars ($286 million) in the first 10 months of 2025, marking a 341.3 percent year-on-year increase, new figures show. 

According to foreign trade data issued by the Department of Statistics, Jordan’s imports from Syria reached around 75 million dinars over the same period, up 47.1 percent annually, the Jordan News Agency, Petra, reported. 

Total trade between the two countries stood at 278 million dinars in the first 10 months of the year, compared with 97 million dinars in the same period of 2024. 

The growth reflects closer bilateral ties, as Jordan has reaffirmed its commitment to supporting Syria’s recovery and reintegration, a relationship seen as important for reconstruction efforts as well as regional stability and economic cooperation. 

In May, the two sides also agreed to draft a comprehensive road map to guide future cooperation, with a focus on investment, joint ventures and reconstruction initiatives.  

“Trade relations between Jordan and Syria recorded notable growth over the last ten months of this year, driven by the resumption of commercial activity and a marked increase in bilateral trade flows,” the Petra report stated.  

It added: “Jordanian exports to Syria are primarily concentrated in construction-related industries and building materials, including cement, steel, marble, tiles, paints, and pipes, in addition to electrical equipment, as well as food, agricultural, and chemical products.” 

Jordan and Syria are also expected to strengthen cooperation and exchange expertise in the banking and financial sectors, following meetings between the two countries’ central bank governors earlier this month. 

Jordan’s export growth to Syria comes amid a broader rise in trade with Arab markets, as Jordanian exports to countries in the Greater Arab Free Trade Area continued to climb during the first 10 months of the year, keeping Arab states at the forefront of the country’s trading partners. 

According to foreign trade data from the Department of Statistics, Jordanian exports to the region rose 8.7 percent year on year to 3.24 billion dinars, compared with 2.98 billion dinars in the same period last year. Arab countries accounted for about 41.5 percent of Jordan’s total exports during the period. 

Imports from countries within the Greater Arab Free Trade Area also increased, rising 8 percent to 4.58 billion dinars in the first 10 months of the year, up from 4.25 billion dinars a year earlier. 

As a result, Jordan’s trade deficit with the region widened to about 1.34 billion dinars during the period, compared with 1.26 billion dinars in the corresponding period last year, reflecting stronger import growth alongside rising exports.