Remittance outflows by expatriates in Saudi Arabia dropped 14 percent year-on-year (YoY) to SAR 61.36 billion in H1 2019, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.

 

Expat Remittances Since 2010 (SAR bln)

Period

Value

Variation

2010

98.81

+17%

2011

110.40

+12%

2012

125.25

+13%

2013

147.96

+18%

2014

153.29

+4%

2015

156.86

+2%

2016

151.90

(3%)

2017

141.66

(7%)

2018

136.43

(4%)

H1 2019*

61.36

(14%)

 *compared to year-earlier period

 

 Remittance outflows by expatriates also fell by 18 percent YoY to SAR 8.71 billion in June 2019.

 

When compared to the previous month, expat remittance outflows retreated 13 percent, or SAR 1.28 billion in May.

 

Expat Remittances (SAR bln)

Variation

2019

2018

Month

+6%

11.02

10.39

January

(25%)

9.65

12.80

February

(12%)

11.26

12.80

March

(9%)

10.72

11.72

April

(22%)

9.99

12.75

May

(18%)

8.71

10.60

June

--

--

12.18

July

--

--

10.43

August

--

--

9.84

September

--

--

11.72

October

--

--

9.90

November

--

--

11.31

December

--

--

136.43

Total
 

Remittances sent by Saudi nationals to other countries fell 15 percent YoY to SAR 28.14 billion in H1 2019.

 

Saudi Remittances Since 2010 (SAR bln)

Period

Value

Variation

2010

52.73

(17%)

2011

61.69

%17+

2012

69.24

12%+

2013

78.61

14%+

2014

88.57

%13+

2015

89.18

%1+

2016

59.58

(33%)

2017

65.27

%10+

2018

60.27

(8%)

*H1 2019

28.14

(15%)

 *compared to year-earlier period

 

Remittances sent by Saudi nationals to other countries increased by 2 percent YoY to SAR 3.51 billion in June 2019.

 

Saudi Remittances (SAR bln)

Variation

2019

2018

Month

(21%)

4.91

6.18

January

(33%)

4.18

6.26

February

(32%)

4.27

6.27

March

+2%

5.06

4.94

April

+5%

6.21

5.93

May

+2%

3.51

3.44

June

--

--

4.52

July

--

--

3.69

August

--

--

4.78

September

--

--

4.94

October

--

--

4.81

November

--

--

4.53

December

--

--

60.27

Total

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