$523.4 billion in foreign direct investments in GCC countries

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 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, and the volume of intra-Gulf investments increased from $88.2 billion in 2015 to $130.3 billion in 2023, 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 in 2024, an annual increase of 2%, while public spending reached $659.3 billion.

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.

On the other hand, Gulf financial market indices recorded positive performance during the year 2024, as the market value of the markets rose to about $4.2 trillion, despite the state of anticipation in global markets due to the tightening of monetary policies in the United States.