$100 currency
Remittances from expatriates in Saudi Arabia fell 13%, or SAR 18.3 billion, to SAR 124.9 billion in 2023, compared to SAR 143.2 billion in 2022, according to recent data released by the Saudi Central Bank (SAMA).
Last year's remittances from expatriates are the lowest since 2011, when they reached SAR 110.4 billion.
|
Remittances by Expatriates Since 2010 |
||
|
Year |
Value (SAR bln) |
Change (%) |
|
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%) |
|
2019 |
125.53 |
(8%) |
|
2020 |
149.69 |
+19% |
|
2021 |
153.87 |
+3% |
|
2022 |
143.24 |
(7%) |
|
2023 |
124.90 |
(13%) |
Expat remittances were down during all months last year, except for December when they gained 6%.
|
Remittances by Expatriates (SAR bln) |
|||
|
Month |
2022 |
2023 |
Change (%) |
|
January |
12.52 |
10.52 |
(16%) |
|
February |
11.20 |
9.77 |
13% |
|
March |
14.70 |
9.59 |
(35%) |
|
April |
13.65 |
9.92 |
(27%) |
|
May |
11.28 |
11.27 |
(0.1%) |
|
June |
13.21 |
10.84 |
(18%) |
|
July |
11.60 |
10.63 |
(8%) |
|
August |
11.92 |
10.77 |
(10%) |
|
September |
11.33 |
9.91 |
(13%) |
|
October |
11.24 |
10.90 |
(3%) |
|
November |
10.52 |
10.14 |
(4%) |
|
December |
10.06 |
10.65 |
+6% |
Remittances by Saudi nationals retreated 15% year-on-year to about SAR 61.5 billion in 2023.
|
Remittances by Saudi Nationals Since 2010 |
||
|
Year |
Value (SAR bln) |
Change (%) |
|
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%) |
|
2019 |
58.09 |
(4%) |
|
2020 |
48.57 |
(16%) |
|
2021 |
65.47 |
+35% |
|
2022 |
72.47 |
+11% |
|
2023 |
61.55 |
(15%) |
Remittances by Saudi nationals were down during all months last year, except for December when they rose 19%.
|
Remittances by Saudi Nationals (SAR bln) |
|||
|
Month |
2022 |
2023 |
Change (%) |
|
January |
6.21 |
5.23 |
(16%) |
|
February |
5.45 |
4.48 |
(18%) |
|
March |
6.62 |
5.24 |
(21%) |
|
April |
6.46 |
3.92 |
(39%) |
|
May |
6.20 |
5.84 |
(6%) |
|
June |
6.75 |
5.15 |
(24%) |
|
July |
6.15 |
5.80 |
(6%) |
|
August |
6.33 |
4.91 |
(22%) |
|
September |
5.22 |
4.66 |
(11%) |
|
October |
5.94 |
5.54 |
(7%) |
|
November |
6.34 |
5.03 |
(21%) |
|
December |
4.82 |
5.75 |
+19% |
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