Expat remittance outflows in Saudi Arabia dropped, for the 4th year in a row, by 8 percent year-on-year (YoY) to SR 125.5 billion in 2019, compared to SR 136.43 billion a year earlier, according to data published by the Saudi Arabian Monetary Authority (SAMA).
Expat Remittances Since 2010 (SR/BLN)
Expat remittances fell for most months of 2019. The biggest decline was in February by 25% YoY reaching SR 9.7 billion.
As many as 4 months witnessed an increase in expat remittance outflows led by January which saw a 6% YoY increase to SR 11.02 billion.
Remittances sent by Saudi nationals to other countries dropped 4% YoY to SR 58.1 billion in 2019.