Remittance outflows by expatriates in Saudi Arabia fell 2 percent year-on-year (YoY) to SAR 12.75 billion in May, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.

 

Compared to April, expat remittances rose by SAR 1.03 billion.

 

Expat Remittances (SAR bln)

Variation

2018

2017

Month

(18%)

10.39

12.62

January

+19%

12.80

10.77

February

+0.4%

12.80

12.75

March

+3%

11.72

11.41

April

(2%)

12.75

13.04

May

--

--

10.43

June

--

--

11.29

July

--

--

12.55

August

--

--

8.55

September

--

--

12.20

October

--

--

12.02

November

--

--

14.04

December

--

--

141.66

Total
 

Remittances sent by Saudi nationals to other countries declined 17 percent YoY to SAR 5.93 billion in May. 

 

On a month-on-month basis, these remittances grew almost SAR 1 billion in the same period.

 

Saudi Remittances (SAR bln)

Variation

2018

2017

Month

+25%

6.18

4.96

January

+52%

6.26

4.13

February

+41%

6.27

4.46

March

+27%

4.94

3.89

April

(17%)

5.93

7.12

May

--

--

3.03

June

--

--

6.70

July

--

--

6.77

August

--

--

3.81

September

--

--

6.42

October

--

--

7.95

November

--

--

6.05

December

--

--

65.27

Total

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