Remittances from expatriates in Saudi Arabia rose by 33% year-on-year (YoY) to SAR 15.21 billion in July 2020 when compared to the same period last year, hitting its highest level in four years, according to recent data released by the Saudi Arabian Monetary Authority (SAMA). In June 2016, it had reached SAR 15.84 billion.
On a monthly basis, expat remittances levelled up 9%, or SAR 1.25 billion, by the end of July.
|
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 |
|
+33% |
15.21 |
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 29% YoY to SAR 3.83 billion in July.
|
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 |
|
(29%) |
3.83 |
5.43 |
July |
|
-- |
-- |
3.90 |
August |
|
-- |
-- |
4.53 |
September |
|
-- |
-- |
5.19 |
October |
|
-- |
-- |
5.95 |
November |
|
-- |
-- |
4.96 |
December |
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