Expat remittances in Saudi Arabia decline to SAR 9.9 bln in September

06/11/2023 Argaam Special
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Remittances by expatriates in Saudi Arabia dropped 13% year-on-year (YoY) to SAR 9.9 billion in September, according to recent data released by the Saudi Central Bank (SAMA).

 

On a month-on-month (MoM) basis, expat remittances in the Kingdom declined 8%, or SAR 862 million.

 

Remittances by Expatriates (SAR bln)

Month

2022

2023

Change

January

12.52

10.52

(16%)

February

11.20

9.77

(13%)

March

14.70

9.59

(35%)

April

13.65

9.92

(27%)

May

11.28

11.27

(0.1%)

June

13.21

10.84

(18%)

July

11.60

10.63

(8%)

August

11.92

10.77

(10%)

September

11.33

9.91

(13%)

October

11.24

--

--

November

10.52

--

--

December

10.06

--

--

 
 

Remittances by Saudi nationals to other countries also fell 11% YoY to SAR 4.66 billion in September.

 

Remittances by Saudi Nationals (SAR bln)

Month

2022

2023

Change

January

6.21

5.23

(16%)

February

5.45

4.48

(18%)

March

6.62

5.24

(21%)

April

6.46

3.92

(39%)

May

6.20

5.84

(6%)

June

6.75

5.15

(24%)

July

6.15

5.80

(6%)

August

6.33

4.91

(22%)

September

5.22

4.66

(11%)

October

5.94

--

--

November

6.33

--

--

December

4.82

--

--

 
 

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