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Remittances by expatriates in Saudi Arabia dropped in February by 4% year-on-year (YoY) to SAR 9.3 billion, the lowest since June 2019, according to recent data released by the Saudi Central Bank (SAMA)
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On a month-on-month (MoM) basis, expat remittances in the Kingdom declined 10%, or nearly SAR 1.1 billion.
Remittances by Expatriates (SAR bln)
Month
2023
2024
Change
January
10.52
10.41
(1%)
February
9.77
9.33
(4%)
March
9.59
—
—
April
9.92
—
—
May
11.27
—
—
June
10.84
—
—
July
10.63
—
—
August
10.77
—
—
September
9.91
—
—
October
10.90
—
—
November
10.14
—
—
December
10.65
—
—
Remittances by Saudi nationals to other countries grew 4% YoY to SAR 4.7 billion in February.
Remittances by Saudi Nationals (SAR bln)
Month
2023
2024
Change
January
5.23
5.48
+5%
February
4.48
4.68
+4%
March
5.24
—
—
April
3.92
—
—
May
5.84
—
—
June
5.15
—
—
July
5.80
—
—
August
4.91
—
—
September
4.66
—
—
October
5.54
—
—
November
5.03
—
—
December
5.75
—
—
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