Expat remittances in Saudi Arabia expand to SAR 12.6B in May

09/07/2024 Argaam Special
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Remittances by expatriates in Saudi Arabia rose by 12% year-on-year (YoY) to SAR 12.6 billion in May 2024, according to recent data released by the Saudi Central Bank (SAMA)

 

Compared to April 2024, remittances grew 11%, or about SAR 1.251 billion, in May.

 

Remittances by Expatriates (SAR bln)

Month

2023

2024

Change

January

10.52

10.41

(1%)

February

9.77

9.33

(4%)

March

11.52

11.95

+4%

April

9.92

11.35

+14%

May

11.27

12.60

+12%

June

10.84

--

--

July

11.64

--

--

August

10.77

--

--

September

9.91

--

--

October

10.90

--

--

November

10.14

--

--

December

10.65

--

--

 
 

Remittances by Saudi nationals to other countries jumped 6% YoY to SAR 6.18 billion in May.

 

Remittances by Saudi Nationals (SAR bln)

Month

2023

2024

Change

January

5.23

5.48

+5%

February

4.48

4.68

+4%

March

5.64

5.12

(9%)

April

3.92

4.94

+26%

May

5.84

6.18

+6%

June

5.15

--

--

July

5.80

--

--

August

4.91

--

--

September

4.66

--

--

October

5.54

--

--

November

5.03

--

--

December

5.75

--

--

 

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