AI Summary
Remittances from expatriates in Saudi Arabia rose by 13% to SAR 69.44 billion in H1 2020, compared to SAR 61.36 billion a year earlier, according to recent data released by the Saudi Arabian Monetary Authority (SAMA).
|
Expat Remittances (SAR bln) |
||
|
Year |
Remittances |
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%) |
|
2019 |
125.53 |
(8%) |
|
H1 2020* |
69.44 |
+13% |
Remittances from expatriates in Saudi Arabia surged 60% YoY to SAR 13.96 billion in June.
On a monthly basis, expat remittances increased 18%, or SAR 2.13 billion.
Saudi Arabia returned to normalcy in June, despite compliance with the preventive health measures and social distancing due to the COVID-19 pandemic.
|
Remittances by expatriates (SAR bln) |
|||
|
Variation |
2020 |
2019 |
Month |
|
(2%) |
10.79 |
11.02 |
January |
|
+12% |
10.84 |
9.65 |
February |
|
+9% |
12.22 |
11.26 |
March |
|
(9%) |
9.79 |
10.72 |
April |
|
+18% |
11.83 |
9.99 |
May |
|
+60% |
13.96 |
8.71 |
June |
|
-- |
-- |
11.46 |
July |
|
-- |
-- |
9.92 |
August |
|
-- |
-- |
10.28 |
September |
|
-- |
-- |
11.04 |
October |
|
-- |
-- |
9.91 |
November |
|
-- |
-- |
11.56 |
December |
In addition, remittances sent by Saudi nationals to other countries fell 17% YoY to SAR 23.36 billion in H1 2020.
|
Remittances by Saudi nationals (SAR bln) |
||
|
Year |
Remittances |
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%) |
|
2019 |
58.09 |
(8%) |
|
H1 2020* |
23.36 |
(17%) |
*Compared to 2019
In addition, remittances sent by Saudi nationals to other countries grew by 17% YoY to SAR 4.11 billion in June.
|
Remittances by Saudi nationals (SAR bln) |
|||
|
Variation |
2020 |
2019 |
Month |
|
(20%) |
3.90 |
4.91 |
January |
|
+2% |
4.25 |
4.18 |
February |
|
+21% |
5.16 |
4.27 |
March |
|
(42%) |
2.95 |
5.06 |
April |
|
(52%) |
2.98 |
6.21 |
May |
|
+17% |
4.11 |
3.51 |
June |
|
-- |
-- |
5.43 |
July |
|
-- |
-- |
3.90 |
August |
|
-- |
-- |
4.53 |
September |
|
-- |
-- |
5.19 |
October |
|
-- |
-- |
5.95 |
November |
|
-- |
-- |
4.96 |
December |
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