Expat remittance jumps 19% to SR150 billion in 2020

449
Advertisement

For the latest updates, news, and events of Saudi Arabia you can join our WhatsApp group


[addthis tool="addthis_inline_follow_toolbox"]

The personal remittances of expatriates posted an increase of 19.25 percent, reaching SR149.69 billion ($39.92 billion) during the year 2020, while compared to SR125.53 billion ($33.47 billion) during 2019, according to the latest report of the Saudi Central Bank (SCB).

The value of remittances recorded is the highest in 2020 over the last four years since 2016. Remittances have declined in the past two years in a row from SR151.9 billion ($ 40.5 billion) in 2016 to SR141.6 billion ($ 37.8 billion) in 2017, to SR136.4 billion ($ 36.4 billion) in 2018, and then to SR125.53 billion ($ 33.47 billion) in 2019.

The Central Bank figures showed that there has been an increase of 16.1 percent in the remittances reaching SR13.42 billion ($3.58 billion) during the month of December 2020, while compared to SR11.56 billion ($3.08 billion) in the same period in 2019. On a monthly basis, the remittances rose by 4.34 percent in December as against SR12.86 billion ($3.43 billion) in the previous month.

According to the Central Bank, the transfers during December recorded the highest level in about five months, since July 2020, which amounted to SR15.213 billion ($4.06 billion).

During the fourth quarter of last year, personal transfers of foreigners residing in the Kingdom rose by 21.35 percent, reaching about SR39.45 billion ($10.52 billion), compared to SR32.51 billion ($ 8.67 billion) in the same quarter of 2019, an increase of 21.35 percent.

The transfers dropped in the fourth quarter of 2020 by 3.3 percent when compared to their value of SR40.8 billion ($ 10.88 billion) in the third quarter of 2020, the SCB data showed.

What's your reaction about this news

🥰𝙒𝙚 𝙝𝙤𝙥𝙚 𝙩𝙝𝙖𝙩 𝙮𝙤𝙪 𝙡𝙞𝙠𝙚𝙙 𝙩𝙝𝙞𝙨 𝘼𝙧𝙩𝙞𝙘𝙡𝙚. 𝙋𝙡𝙚𝙖𝙨𝙚 𝙨𝙝𝙖𝙧𝙚 𝙞𝙩 𝙬𝙞𝙩𝙝 𝙮𝙤𝙪𝙧 𝙁𝙧𝙞𝙚𝙣𝙙𝙨 𝙖𝙣𝙙 𝙨𝙪𝙗𝙨𝙘𝙧𝙞𝙗𝙚 𝙩𝙤 𝙤𝙪𝙧 𝙬𝙚𝙗𝙨𝙞𝙩𝙚 𝙗𝙮 𝙘𝙡𝙞𝙘𝙠𝙞𝙣𝙜 𝙤𝙣 𝙩𝙝𝙚 𝘽𝙚𝙡𝙡 𝙄𝙘𝙤𝙣 (𝙇𝙚𝙛𝙩 𝘽𝙤𝙩𝙩𝙤𝙢 𝙤𝙛 𝙩𝙝𝙞𝙨 𝙋𝙖𝙜𝙚) 𝙩𝙤 𝙧𝙚𝙘𝙚𝙞𝙫𝙚 𝙣𝙤𝙩𝙞𝙛𝙞𝙘𝙖𝙩𝙞𝙤𝙣𝙨 𝙛𝙤𝙧 𝙚𝙫𝙚𝙧𝙮 𝙏𝙧𝙚𝙣𝙙𝙞𝙣𝙜 𝙖𝙧𝙩𝙞𝙘𝙡𝙚.🥰
[addthis tool="addthis_inline_share_toolbox"]

Add us on Snapchat

Follow Us On  Google News

For the latest updates, news, and events of Saudi Arabia you can join our WhatsApp group or Telegram

Find Jobs Online in any region of Saudi Arabia on  KSA Job Site

Advertisement
Advertisement