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Remittances from expatriates in Saudi Arabia fell by 17% year-on-year (YoY) to SAR 11.1 billion in December 2021, according to recent data released by the Saudi Central Bank (SAMA).
Compared to November 2021, remittances from expatriates in Saudi Arabia declined around 14%, or SAR 1.9 billion YoY.
Accordingly, expatriate remittances are the lowest since April 2020, when they reached SAR 9.79 billion.
|
Remittances by Expatriates (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 |
|
(18%) |
12.52 |
15.21 |
July |
|
+11% |
13.74 |
12.38 |
August |
|
+1% |
13.35 |
13.21 |
September |
|
+2% |
13.48 |
13.16 |
October |
|
+1% |
12.97 |
12.86 |
November |
|
(17%) |
11.10 |
13.42 |
December |
Meanwhile, remittances sent by Saudi nationals to other countries rose 20% YoY to SAR 5.75 billion in December.
|
Remittances by Saudi Nationals (SAR bln) |
|||
|
Variation |
2021 |
2020 |
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 |
|
+8% |
4.14 |
3.83 |
July |
|
+64% |
5.74 |
3.49 |
August |
|
+44% |
5.79 |
4.02 |
September |
|
+30% |
5.51 |
4.24 |
October |
|
+48% |
7.18 |
4.85 |
November |
|
+20% |
5.75 |
4.79 |
December |
Details and historical data of monetary and economic statistics
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