Remittance outflows from expatriates in Saudi Arabia fell 15 percent year-on-year (YoY) to SAR 10.77 billion in February, data from the Saudi Arabian Monetary Authority (SAMA) showed.
The kingdom’s finance ministry recently confirmed that it has no plans to impose a tax on remittances by expatriates.
|
Remittances by expatriates (SAR bln) |
|||
|
Variation |
2017 |
2016 |
Month |
|
+5% |
12.62 |
12.03 |
January |
|
(15%) |
10.77 |
12.63 |
February |
|
-- |
-- |
12.96 |
March |
|
-- |
-- |
11.88 |
April |
|
-- |
-- |
14.11 |
May |
|
-- |
-- |
15.84 |
June |
|
-- |
-- |
10.30 |
July |
|
-- |
-- |
12.84 |
August |
|
-- |
-- |
10.85 |
September |
|
-- |
-- |
12.82 |
October |
|
-- |
-- |
12.11 |
November |
|
-- |
13.53 |
December |
|
|
-- |
--- |
151.90 |
Total |
Meanwhile Saudi nationals sent a total of SAR 4.13 billion to other countries during February, down 30 percent YoY, data showed.
|
Remittances by Saudi nationals (SAR bln) |
|||
|
Variation |
2017 |
2016 |
Month |
|
(8%) |
4.96 |
5.42 |
January |
|
(30%) |
4.13 |
5.90 |
February |
|
-- |
-- |
5.54 |
March |
|
-- |
-- |
4.96 |
April |
|
-- |
-- |
5.81 |
May |
|
-- |
-- |
5.54 |
June |
|
-- |
-- |
3.43 |
July |
|
-- |
-- |
4.87 |
August |
|
-- |
-- |
4.14 |
September |
|
-- |
-- |
5.36 |
October |
|
-- |
-- |
4.23 |
November |
|
-- |
-- |
4.37 |
December |
|
-- |
-- |
59.58 |
Total |
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