Expat remittances from Saudi Arabia rise 10% to SAR 76.7 bln in H1 2021

05/08/2021 Argaam Special

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Remittances from expatriates in Saudi Arabia rose by 10% year-on-year (YoY) to SAR 76.7 billion in H1 2021, according to recent data released by the Saudi Central Bank (SAMA).

 

Remittances by Expatriates in H1 2021  (SAR bln)

Variation

Remittances

Year

+ 17%

98.81

2010

+ 12%

110.40

2011

+ 13%

125.25

2012

+ 18%

147.96

2013

+ 4%

153.29

2014

+ 2%

156.86

2015

(3%)

151.90

2016

(7%)

141.66

2017

(4%)

136.43

2018

(8%)

125.53

2019

+ 19%

149.69

2020

+ 10%

76.71

H1 2021

 

Remittances from expatriates in Saudi Arabia declined 3% YoY to SAR 13.49 billion in June.

 

On a monthly basis, expat remittances increased 8%, or SAR 960 million.

 

Remittances by Expatriates in June (SAR bln)

Variation

2021

2020

Month

+12%

12.06

10.79

January

+4%

11.30

10.84

February

+15%

14.05

12.22

March

+%36

13.28

9.79

April

+6%

12.53

11.83

May

(%3)

13.49

13.96

June

--

--

15.21

July

--

--

12.38

August

--

--

13.21

September

--

--

13.16

October

--

--

12.86

November

--

--

13.42

December

 

 

In addition, remittances sent by Saudi nationals to other countries grew 34% YoY to SAR 31.4 billion in H1 2021.

 

Remittances by Saudi Nationals in H1 2021 (SAR bln)

Variation

Remittances

Year

(17%)

63.49

2010

+ 17%

52.73

2011

+ 12%

61.69

2012

+ 14%

69.24

2013

+ 13%

78.61

2014

+ 1%

88.57

2015

(33%)

89.18

2016

+ 10%

59.58

2017

(8%)

65.27

2018

(4%)

60.27

2019

(16%)

58.09

2020

+ 34%

31.36

H1 2021

 

In addition, remittances sent by Saudi nationals to other countries leapt by 56% YoY to SAR 6.42 billion in June.

 

Remittances by Saudi Nationals in June (SAR bln)

Variation

2020

2019

Month

+9%

4.27

3.90

January

(%4)

4.08

4.25

February

+26%

6.52

5.16

March

+67%

4.94

2.95

April

+72%

5.13

2.98

May

+56%

6.42

4.11

June

--

--

3.83

July

--

--

3.49

August

--

--

4.02

September

--

--

4.24

October

--

--

4.85

November

--

--

4.79

December

 

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