Global FDI plummets to 15-year low in 2020 on Covid-19 fallout, OECD says

SourceThe National
CountrySaudi Arabia

Global foreign direct investment flows sank to their lowest level in 15 years in 2020 as the Covid-19 pandemic pummelled the world economy, according to the Organisation for Economic Co-operation and Development (OECD).

Global FDI sank 38 per cent year-on-year to $846 billion, the lowest since 2005, as the pandemic accelerated a steady decline, the Paris-based organisation said in a report. This represented only one per cent of the world gross domestic product (GDP), the lowest level since 1999.

“This decrease represents the lowest level of equity flows in OECD countries seen since 2005, mostly resulting from major divestments from Switzerland and the Netherlands, more...