The latest edition of The ICSID Caseload - Statistics highlights a strong demand for ICSID’s services, with a high number of cases administered and registered during Fiscal Year 2025 (July 1, 2024, to June 30, 2025). This edition introduces two new features: aggregated data on damages claimed and awarded in arbitration cases decided by tribunals at ICSID, and information on the geographic origin of investors in new cases.

Overall, ICSID administered 347 cases in FY2025, the highest number of cases in a fiscal year in its history. In addition, ICSID provided services for 15 cases under non-ICSID rules, including 12 cases under the UNCITRAL Arbitration Rules.

As of June 30, 2025, ICSID had registered a total of 1,058 arbitration and conciliation cases under the ICSID Convention and Additional Facility Rules, including 67 new cases in FY2025. In most of these new cases (45%), ICSID jurisdiction was asserted based on a bilateral investment treaty (BIT), followed by other international treaties (27%), contracts between a host State and investor (21%), and domestic investment laws (7%).

Regional and Sectoral Breakdown of New Cases
In FY2025, 24% of new cases involved States in Sub-Saharan Africa. States in Central America and the Caribbean accounted for 19% of new cases, South America for 18%, and Eastern Europe and Central Asia for 12%. States in Western Europe represented 9% of new cases, North America 7%, South and East Asia and the Pacific 6%, and the Middle East and North Africa 5%.

The new edition of The ICSID Caseload - Statistics provides the regional breakdown of new cases in FY2025 based on the investors’ nationalities and places of incorporation at the time of case registration.

The data shows that investors from all regions were represented in new cases. The largest share involved investors from Western Europe (44%), followed by North America (19%), South and East Asia and the Pacific (14%), the Middle East and North Africa (8%), and South America (6%). Investors from Eastern Europe and Central Asia, Sub-Saharan Africa, and Central America and the Caribbean accounted for 3% of new cases each.
 

Distribution of ICSID Cases Registered in FY2025 by Investor Party Involved

 

In FY2025, 43% of new cases were related to the oil, gas, and mining sectors, with the majority of cases (19 cases) involving the mining industry. The construction sector accounted for 15% of disputes.

Case Outcomes and Awards
Of the ICSID arbitrations concluded in FY2025, 21% were settled or otherwise discontinued, while 79% were decided by the tribunal. Among the cases decided by tribunals, 57% of awards upheld the investors’ claims in part or in full, 24% dismissed all of the investors’ claims on the merits, and 19% declined jurisdiction.

This issue of The ICSID Caseload - Statistics introduces another feature: data on damages claimed and awarded in ICSID arbitrations concluded in FY2025, as well as in all concluded ICSID arbitrations. Claimants usually seek financial compensation for alleged breaches of investment obligations. The amounts claimed and awarded can vary significantly depending on the nature of the investment and the dispute at issue.

In arbitration cases decided by tribunals in FY2025, 51% resulted in no damages awarded to investors (e.g., due to dismissal of claims on jurisdictional grounds, findings of no liability, or liability without damages). In 10% of cases, the damages awarded were under US$10 million, while 25% of cases resulted in awards ranging from US$10 million to US$99 million.

Similarly, throughout ICSID’s history, no damages to investors have been awarded in 54% of arbitration cases. In 15% of cases, damages awarded were less than US$10 million, while in 10% of cases, damages exceeded US$100 million.

 

Damages Outcomes in ICSID Arbitrations Decided by Tribunals

 

The new edition also presents data on the ratio of damages awarded to damages claimed in arbitrations where tribunals granted monetary compensation to claimants. In FY2025, damages awarded were less than 10% of the amount claimed in 6 cases, and between 26% and 50% of the amount claimed in 8 cases.

Over the history of ICSID, in 21% of all arbitrations decided by tribunals, damages awarded have been less than 10% of the amount claimed; and in 45% of cases, between 10% and 50% of the amount claimed.

 

Ratio of Damages Awarded to Damages Claimed in ICSID Arbitrations Decided by Tribunals


Diversity Among ICSID Appointments
ICSID continues to see broader diversity among arbitrators, conciliators, and committee members. In FY2025, individuals from 48 different nationalities were appointed to ICSID cases. Overall, women represented 30% of all appointments during FY2025.

In total, 13% of appointments in FY2025 involved individuals appointed to an ICSID case for the first time. Of these first-time appointees, 32% were nationals of low- or middle-income economies, and 35% were women.

The ICSID Caseload – Statistics issue for FY2025 is available for download here.

About The ICSID Caseload - Statistics
Published every six months in English, French and Spanish, the ICSID Caseload - Statistics presents a profile and trends of the ICSID caseload since the first case registered in 1972. The publication offers a comprehensive, data-driven overview of all cases registered and administered by ICSID, serving as a key resource for practitioners and policymakers to track trends and developments in international investment dispute settlement.