Foreign investment in Saudi Arabia rises to $0.3 trillion

Foreign investments in Saudi Arabia has recorded a rise of 3.2 per cent equivalent to 36.1 billion riyals ($9.6 billion) at the end of the third quarter of this year compared to the same period last year.

The value of the total foreign investment by the end of the third quarter of 2016 reached 1.177 trillion riyals (0.31 trillion), the highest level recorded compared to 1.140 trillion riyals ($0.3 trillion) at the end of the third quarter of last year.

Foreign investments have also registered a growth rate of around 2.8 per cent equivalent to 32.3 billion riyals ($8.6 billion) at the end of the third quarter of this year, compared to its value at the end of last year, amounting to about 1.144 trillion riyals.

According to data from the Saudi Arabian Monetary Agency (SAMA) the distribution of foreign investment in the kingdom has changed this year, where portfolio investment declined by the end of the third quarter of 2016 compared to the increased value of other investments including loans, currency and deposits.

Direct investment in the Saudi economy recorded a growth rate of 3.3 per cent at the end of the third quarter of 2016.

Other investments including currency and deposits, loans and other accounts payable rose by 28.6 per cent during the same period.

Meanwhile, the value of portfolio investment fell by 30 per cent.