"Gulf Statistician": $523.4 billion foreign investment in countries "cooperation"
Muscat, November 23, 2020 – Data issued by the Statistical Center for the Cooperation Council for the Arab States of the Gulf showed that direct foreign investments coming into the GCC countries, which do not include intra-regional investments, amounted to about 523.4 billion US dollars in 2023, which represents about 80% of the total stock of foreign direct investment, which confirms the growing international confidence in the Gulf business environment.
Foreign direct investment flows constituted about 5% of total global flows in 2023 AD, and the volume of intra-Gulf investments increased from $88.2 billion in 2015 AD to $130.3 billion in 2023 AD, equivalent to 20% of the total stock of foreign investment in the region.
The center attributed this to the development of infrastructure and technology, and the adoption of modern legislation that enhanced the region’s attractiveness as a global investment center.
The foreign merchandise trade of the GCC countries recorded a slight growth of 1.1% during the year 2024, despite the decline in average oil prices from $82.5 per barrel in 2023 to $80.5 in 2024.
Non-oil exports achieved a noticeable increase, which reflects progress in diversifying the export base, and re-export activity has witnessed continuous growth thanks to the advanced logistics centers in the region.
The public revenues of the GCC countries amounted to about 670.2 billion US dollars in 2024, an annual increase of 2%, while public spending amounted to 659.3 billion dollars, which reflects the Gulf governments’ keenness to progress in controlling public financial conditions and directing spending towards development, infrastructure, and social protection.
Data indicate an increase in the contribution of non-oil revenues to total public income as a result of the application of indirect taxes such as value-added tax and selective taxes, in addition to improving the efficiency of financial collection through digital transformation in public financial management, which contributed to containing public debt and reducing the burden of servicing it on public budgets.
On the other hand, Gulf financial market indices recorded positive performance during the year 2024. The market value of the markets rose to about 4.2 trillion US dollars, despite the state of anticipation in global markets due to the tightening of monetary policies in the United States.
The positive performance was supported by improved corporate profits, lower inflation levels, and the continued flow of institutional investments in key sectors.
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