Global FDI plummets to 15-year low in 2020 on Covid-19 fallout, OECD says
- Date: 01-May-2021
- Source: The National
- Sector:Healthcare
- Country:Saudi Arabia
Global FDI plummets to 15-year low in 2020 on Covid-19 fallout, OECD says
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.