Expat remittances from Saudi Arabia rise 19% to $39.9bn in 2020

Expat remittances from Saudi Arabia rise 19% to $39.9bn in 2020
Accordingly, the expat remittances record the first annual rise since 2015. (Argaam)
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Updated 02 February 2021

Expat remittances from Saudi Arabia rise 19% to $39.9bn in 2020

Expat remittances from Saudi Arabia rise 19% to $39.9bn in 2020

Remittances from expatriates in Saudi Arabia increased by 19 percent, or SR 24.2 billion ($6.45 billion), year-on-year (YoY) to SR 149.7 billion in 2020, compared with SR 125.5 billion a year earlier, data issued by the Saudi Central Bank (SAMA) showed.

Accordingly, the expat remittances record the first annual rise since 2015. In December 2020, the expat remittances rose 16 percent YoY to SR 13.4 billion.

Personal remittances of Saudis declined 16 percent YoY to SR 48.6 billion in 2020. In December 2020, Saudis’ remittances fell 3 percent to SR 4.8 billion, compared to the same period last year