New OECD data show global FDI slowed in 2022 but new investment showed modest growth

April 28, 2023

Key findings include that:

  • Global FDI flows dropped by 24 % in 2022, to USD 1286 billion, after large withdrawals of capital by a telecommunication MNE operating in Luxembourg. Excluding Luxembourg, global FDI flows declined by 5 % in 2022 compared to the previous year.
  • Major FDI recipients recorded lower FDI flows in 2022, particularly China and the United States partly as a result of reduced new investment activity.
  • The United States and China were the top two FDI destinations worldwide in 2022, followed by Brazil, receiving peak level of inflows partly due to increased reinvestment of earnings.
  • FDI inflows in OECD economies fell by 26 % due to disinvestments from Luxembourg, which were in part offset by large increases in Switzerland and the United Kingdom. FDI inflows in non-OECD G20 economies dropped by 38 %, mainly reflecting decreases in China.
  • FDI outflows from OECD and non-OECD G20 countries plunged by 14 % and 28 %, respectively.
  • Cross-border M&A activity slowed down with fewer deals being concluded in 2022, possibly in response to a tighter financial environment and continued geopolitical challenges.

Download the full report and the data in Excel at