Expat Remittances Fell 8 Percent in 2019

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)

Period	Value	Variation
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%

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.