The UAE remained in the top position as the largest Arab capital exporter, investing nearly $57.8 billion in global markets, while receiving a total of $85.5 billion in shape of foreign direct investment (FDI) at the end of last year, the Kuwait-based Inter-Arab Investment Guarantee Corporation (IAIGC) report showed on Wednesday.
It also accounted for 32% of the total outflow into the world markets. According to UN figures, only developed countries were ahead of the UAE.
According to the statistics, Saudi Arabia, the largest Arab economy and world’s largest oil supplier, remained the FDI biggest recipient attracting around $185.8 billion with an FDI outflow of $29.9 billion.
Kuwait was ranked third with a capital outflow of around $22 billion, followed by Qatar with around $18.5 billion. Capital outflow in the other Gulf states – Bahrain and Oman stood at around $8.7 billion and $3.5 billion respectively. According to UNCTAD report, the total FDI outflow of the six-nation Gulf Cooperation Council (GCC) stood at $140.3 billion, which is nearly 79% of the total Arab capital outflow.
Egypt ranked third largest recipient of FDI attracting about $72.6 billion, followed by Morocco with $46 billion and Lebanon with $40 billion.