The value of Saudi mergers and acquisitions abroad jumped to $3.410 billion during the first half of this year.
This represents an increase of 230.4 per cent compared with $148 million spent by Saudi Arabia in the second half of last year.
According to data obtained by Saudi-based Al Eqtisadiah from Astrit Sulstarova, trends and data section chief at the UNCTAD, the kingdom ranks second in the value of purchases of mergers and acquisitions abroad, as purchases abroad are an indicator of foreign direct investment flows abroad.
These figures mean that, at a time when the kingdom’s purchases of mergers and acquisitions abroad shrank by $823m during the first half of 2014, compared with the second half of 2013, Saudis invested $148bn in the second six months of 2014. After that, the value of Saudi investment jumped to $3.41bn in the first half of this year.
Sulstarova explains that Qatari purchases of mergers and acquisitions abroad during the first half of this year were more than double that achieved by Saudi Arabia after it reached $6.634bn, compared with $958 million in the second half of last year.
($1 = AED3.67, at the time of publishing)