When the Global Financial Crisis broke out in 2008, G20 members committed to refrain from introducing new barriers to investment and trade. They asked that the WTO, OECD, and UNCTAD monitor and report publicly on their trade and investment policy measures. To date, 31 reports have been issued under this mandate.
Over the past years, the global economy has been shaped by overlapping crises and growing uncertainty. The lingering effects of the COVID-19 pandemic, new and ongoing conflicts, the accelerating impact of climate change and shifting trade policy have collectively disrupted value chains, constrained growth, and increased government debt.
Reflecting these dynamics, Foreign Direct Investment (FDI) flows continued their decline in 2024, both within G20 economies and globally. Investment in efforts to reach the Sustainable Development Goals (SDGs) is also declining, even as financing needs to increase.
Investment policies in several G20 members are also changing. The long-term tendency towards more open and transparent FDI frameworks that policy monitoring by the OECD and UNCTAD had revealed until recently has weakened. Measures related to national security concerns associated with foreign investments take a prominent place.
The present report documents measures that G20 governments have taken between 16 October 2024 and 15 October 2025. As all previous reports in this series, it was jointly prepared by the Secretariats of the OECD and UNCTAD.