Expat remittances from Saudi Arabia retreat to SAR 10.1B in November

02/01/2024 Argaam Special
$100 currency

$100 currency


Remittances from expatriates in Saudi Arabia saw a 4% year-on-year (YoY) decline to SAR 10.1 billion in November, according to recent data released by the Saudi Central Bank (SAMA).

 

On a month-on-month (MoM) basis, outward remittances dropped 7%, or SAR 760 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

10.90

(3%)

November

10.52

10.14

(4%)

December

10.06

--

--

 

Meanwhile, remittances by Saudi nationals to other countries fell 21% YoY to SAR 5.03 billion in November.

 

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

5.54

(7%)

November

6.34

5.03

(21%)

December

4.82

--

--

 

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.