Expat remittances in Saudi Arabia rise to SAR 12B in March

07/05/2024 Argaam Special
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Remittances by expatriates in Saudi Arabia rose in March by 4% year-on-year (YoY) to SAR 11.96 billion, according to recent data released by the Saudi Central Bank (SAMA)

 

Expat remittances in March hit the highest level in nearly two years, or since June 2022.

 

Remittances by Expatriates (SAR bln)

Month

2023

2024

Change

January

10.52

10.41

(1%)

February

9.77

9.33

(5%)

March

11.52

11.96

+4%

April

9.92

--

--

May

11.27

--

--

June

10.84

--

--

July

10.63

--

--

August

10.77

--

--

September

9.91

--

--

October

10.90

--

--

November

10.14

--

--

December

10.65

--

--

 

Remittances by Saudi nationals to other countries dropped 9% YoY to SAR 5.12 billion in March.

 

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

--

--

May

5.84

--

--

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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