One of the key indicators used by economists, analysts (and journalists) to assess Saudi Arabia’s success in attracting foreign direct investment is flawed, a new paper argues.
The Arab Gulf States Institute in Washington points to major discrepancies in the quarterly and annual FDI data compiled by two different Saudi government bodies. In 2023, for example, the Ministry of Investment’s annual FDI estimate was nearly double that of the General Authority for Statistics.
The culprit: lagging data. Annual FDI figures are typically published in October, allowing for revisions, while quarterly data is more immediate but often incomplete.
For those tracking long-term trends, the annual figures may provide a more accurate picture. But for others making real-time decisions, waiting months for the full data is a luxury they can’t afford.
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