Remittance outflows by expatriates in Saudi Arabia dropped 14 percent year-on-year (YoY) to SAR 61.36 billion in H1 2019, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
|
Expat Remittances Since 2010 (SAR bln) |
||
|
Period |
Value |
Variation |
|
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%) |
|
H1 2019* |
61.36 |
(14%) |
*compared to year-earlier period
Remittance outflows by expatriates also fell by 18 percent YoY to SAR 8.71 billion in June 2019.
When compared to the previous month, expat remittance outflows retreated 13 percent, or SAR 1.28 billion in May.
|
Expat Remittances (SAR bln) |
|||
|
Variation |
2019 |
2018 |
Month |
|
+6% |
11.02 |
10.39 |
January |
|
(25%) |
9.65 |
12.80 |
February |
|
(12%) |
11.26 |
12.80 |
March |
|
(9%) |
10.72 |
11.72 |
April |
|
(22%) |
9.99 |
12.75 |
May |
|
(18%) |
8.71 |
10.60 |
June |
|
-- |
-- |
12.18 |
July |
|
-- |
-- |
10.43 |
August |
|
-- |
-- |
9.84 |
September |
|
-- |
-- |
11.72 |
October |
|
-- |
-- |
9.90 |
November |
|
-- |
-- |
11.31 |
December |
|
-- |
-- |
136.43 |
Total |
Remittances sent by Saudi nationals to other countries fell 15 percent YoY to SAR 28.14 billion in H1 2019.
|
Saudi Remittances Since 2010 (SAR bln) |
||
|
Period |
Value |
Variation |
|
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%) |
|
*H1 2019 |
28.14 |
(15%) |
*compared to year-earlier period
Remittances sent by Saudi nationals to other countries increased by 2 percent YoY to SAR 3.51 billion in June 2019.
|
Saudi Remittances (SAR bln) |
|||
|
Variation |
2019 |
2018 |
Month |
|
(21%) |
4.91 |
6.18 |
January |
|
(33%) |
4.18 |
6.26 |
February |
|
(32%) |
4.27 |
6.27 |
March |
|
+2% |
5.06 |
4.94 |
April |
|
+5% |
6.21 |
5.93 |
May |
|
+2% |
3.51 |
3.44 |
June |
|
-- |
-- |
4.52 |
July |
|
-- |
-- |
3.69 |
August |
|
-- |
-- |
4.78 |
September |
|
-- |
-- |
4.94 |
October |
|
-- |
-- |
4.81 |
November |
|
-- |
-- |
4.53 |
December |
|
-- |
-- |
60.27 |
Total |
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