Saudi Arabia's General Authority for Statistics (GASTAT) released Sunday's report showing significant economic developments in Q1 2023:

Foreign Direct Investment:
• 44% YoY growth reaching SAR 22.2 billion (USD 5.9 billion) vs SAR 15.5 billion (USD 4.1 billion) in Q1 2022
• Inbound FDI flows totaled SAR 24.0 billion (USD 6.4 billion), up 24% YoY but down 6% QoQ
• Incomplete investment deals dropped sharply by 54% to SAR 1.8 billion (USD 0.4 billion) from SAR 3.9 billion (USD 1.0 billion) in Q4 2022

Labor Market Highlights:
• Overall unemployment (15+ years) declined to 8.7% from 8.5% last quarter:

• Male unemployment: 3.7%

• Female unemployment: 18.4%
  • Saudi national unemployment fell to 7.6% from 8.4%:

• Saudi males: 4.7% (down from 5.1%)

• Saudi females: 13.0% (down from 14.3%)
  • Labor force participation rate for Saudis reached 47.6%:

• Males: 66.6%

• Females: 35.4%
  • Saudi employment rate stood at 92.4%

Geographic Distribution:
Most Saudi job seekers (20-29 years) are concentrated in:

1. Riyadh region

2. Makkah region

3. Eastern Province

4. Asir region

5. Qassim region

*[Currency conversions use standard exchange rates. Report covers January-March 2023 period.]*

Economic Context:
The data reflects Saudi Arabia's progress in:
✓ Implementing Vision 2030 economic reforms
✓ Diversifying investment sources
✓ Developing human capital
✓ Enhancing female workforce participation