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Remittances by expatriates in Saudi Arabia rose by 14% in 2024, or around SAR 17.4 billion to SAR 144.2 billion from SAR 126.8 billion in 2023—the highest level since 2021, according to recent data from the Saudi Central Bank (SAMA).
Expat Remittances since 2010 (SAR bln)
|
Year |
Value |
Change % |
|
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%) |
|
2020 |
149.69 |
+19% |
|
2021 |
153.87 |
+3% |
|
2022 |
143.24 |
(7%) |
|
2023 |
126.83 |
(11%) |
|
2024 |
144.20 |
+14% |
Foreign remittances grew throughout last year, except in January and February.
December saw the highest increase, reaching SAR 14 billion—up 32% year-on-year (YoY) and the highest since March 2022.
|
Expat Remittances (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 |
12.07 |
+11% |
|
July |
10.63 |
12.91 |
+21% |
|
August |
10.77 |
11.86 |
+10% |
|
September |
9.91 |
12.23 |
+23% |
|
October |
10.90 |
13.43 |
+23% |
|
November |
10.14 |
12.03 |
+19% |
|
December |
10.65 |
14.02 |
+32% |
Remittances by Saudi nationals to other countries increased 11% YoY to SAR 68.6 billion in 2024.
Remittances by Saudi Nationals since 2010 (SAR bln)
|
Year |
Value |
Change % |
|
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 |
(4%) |
|
2020 |
48.57 |
(16%) |
|
2021 |
65.47 |
+35% |
|
2022 |
72.47 |
+11% |
|
2023 |
61.95 |
(15%) |
|
2024 |
68.60 |
+11% |
Saudi remittances increased in all months of 2024, except for March and June.
|
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 |
5.12 |
(1%) |
|
July |
5.80 |
5.81 |
+0.2% |
|
August |
4.91 |
5.83 |
+19% |
|
September |
4.66 |
5.29 |
+14% |
|
October |
5.54 |
6.32 |
+14% |
|
November |
5.03 |
6.17 |
+23% |
|
December |
5.75 |
7.66 |
+33% |
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