Remittances from expatriates in Saudi Arabia increased by 11% in August to 13.7 billion riyals

Personal remittances to resident foreigners in Saudi Arabia (expatriates) increased 11% last August to reach 13.74 billion riyals (about $ 3.66 billion), compared to about 12.38 billion riyals ($ 3.3 billion) in the same month of 2020, according to an analysis conducted by “Al”for data from the Saudi central bank” SAMA “.

On a monthly basis, expat remittances increased by 9.8% last August, compared to about 12.52 billion riyals ($ 3.34 billion) in July 2021.

At the end of August 2021, total remittances from expatriates amounted to approximately 102.97 billion riyals ($ 27.46 billion) in 8 months of 2021, with an increase of 6.1% compared to the remittances of the same period of 2020, equal to 97.03 billion riyals (25.87 billion dollars).

Interestingly, remittances from resident foreigners in Saudi Arabia increased by 19.25% during the year 2020, to reach 149.69 billion riyals (39.92 billion dollars), compared to 125.53 billion riyals (33.47 billion dollars) in 2019 .

Saudi remittances

Personal transfers to the Saudis increased by 64.69% in August 2021, registering 5.74 billion riyals ($ 1.53 billion), up from 3.49 billion riyals ($ 930 million) in August 2020 .

During the 8 months of 2021, total personal transfers to the Saudis amounted to approximately 41.24 billion riyals (about $ 11 billion), compared to 30.67 billion riyals ($ 8.18 billion) in the same. period of 2020, with an increase of approximately 34.5%.

The World Bank stated, in a previous briefing, that despite the emerging coronavirus (Covid-19) pandemic, remittances remained resilient in 2020, recording a lower decline than previously indicated.

The most recent World Bank Migration and Development Report showed that officially registered remittance flows to low- and middle-income countries amounted to $ 540 billion in 2020, in a drop of only 1.6% from the total of $ 548 billion in 2019.

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