Expat remittances in Saudi Arabia dip to SAR 10.8 bln in August

04/10/2023 Argaam Special
$100 currency

$100 currency


Remittances by expatriates in Saudi Arabia dropped 10% year-on-year (YoY) to SAR 10.8 billion in August, according to recent data released by the Saudi Central Bank (SAMA).

 

On a month-on-month (MoM) basis, expat remittances in the Kingdom rose 1%, or SAR 140 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

--

--

October

11.24

--

--

November

10.52

--

--

December

10.06

--

--

 
 

Remittances by Saudi nationals to other countries also fell 22% YoY to SAR 4.9 billion in August.

 

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

--

--

October

5.94

--

--

November

6.33

--

--

December

4.82

--

--

 

 

Details and Historical Data of Monetary and Economic Statistics

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.