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Sun 24 Jan 2016 02:15 PM

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Saudi foreign direct investment falls 4.8%

Cash flowing into the kingdom declined to $7.6bn, according to a UN body

Saudi foreign direct investment falls 4.8%
(Getty Images)

Foreign direct investment (FDI) into Saudi Arabia fell 4.8 percent last year to $7.6 billion, a spokeswoman for the UN Conference on Trade and Development (UNCTAD) reportedly said.

The figure compares to $8 billion in 2014, Arab News said.

However, mergers and acquisitions across borders rose 300 percent, from $200 million in 2014 to $800 million in 2015.

Gobally, FDI jumped 36 percent in 2015 to reach an estimated $1.7 trillion, the highest level of investment flow since the global economic slowdown in 2008-2009.

The report said that the Russian economy witnessed the biggest drop among countries - down 92 percent.

The EU and the US recorded the strongest growth in investment flows in 2015, reaching the second highest level in history, at $936 billion.

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