AI Summary
Remittances from expatriates in Saudi Arabia rose by 25% year-on-year (YoY) to SAR 12.38 billion in August 2020 when compared to the same period last year, according to recent data released by the Saudi Arabian Monetary Authority (SAMA).
On a monthly basis, expat remittances leveled down 19%, or SAR 2.83 billion, by the end of August.
|
Remittances by Expatriates (SAR bln) |
|||
|
Variation |
2020 |
2019 |
Month |
|
(2%) |
10.79 |
11.02 |
January |
|
+12% |
10.84 |
9.65 |
February |
|
+9% |
12.22 |
11.26 |
March |
|
(9%) |
9.79 |
10.72 |
April |
|
+18% |
11.83 |
9.99 |
May |
|
+60% |
13.96 |
8.71 |
June |
|
+33% |
15.21 |
11.46 |
July |
|
+25% |
12.38 |
9.92 |
August |
|
-- |
-- |
10.28 |
September |
|
-- |
-- |
11.04 |
October |
|
-- |
-- |
9.91 |
November |
|
-- |
-- |
11.56 |
December |
In addition, remittances sent by Saudi nationals to other countries fell 11% YoY to SAR 3.49 billion in August.
|
Remittances by Saudi Nationals (SAR bln) |
|||
|
Variation |
2020 |
2019 |
Month |
|
(20%) |
3.90 |
4.91 |
January |
|
+2% |
4.25 |
4.18 |
February |
|
+21% |
5.16 |
4.27 |
March |
|
(42%) |
2.95 |
5.06 |
April |
|
(52%) |
2.98 |
6.21 |
May |
|
+17% |
4.11 |
3.51 |
June |
|
(29%) |
3.83 |
5.43 |
July |
|
(11%) |
3.49 |
3.90 |
August |
|
-- |
-- |
4.53 |
September |
|
-- |
-- |
5.19 |
October |
|
-- |
-- |
5.95 |
November |
|
-- |
-- |
4.96 |
December |
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