Posted by : Aahil Shaik Tuesday, September 1, 2020
Expats of Saudi Arabia sent 15.2 billion Riyals in July, 33% more compare to last year
Remittances of expatriates living in Saudi Arabia reached 15.213 billion Saudi Riyals in July 2020, which is up by 32.7% compared to 11.461 billion Saudi riyals in July 2019.
Saudi citizens remittances sent to abroad fell by 29.5% and reached 3.87 billion Saudi Riyals in July, compared to 5.427 billion riyals in July 2019.
- While comparing on monthly basis, the total money sent by expatriates of Saudi Arabia to their home countries seen 8.9% increase, as in June the remittances was reached to 13.9 billion Saudi Riyals.
- On monthly basis, Saudi remittances to abroad countries decreased by 6.9% reaching 4.114 billion Saudi Riyals in June.
- On quarterly basis, the remittances of Saudi Expatriates amounted 33.855 billion SR in the first quarter of 2020 up by 6% compared to 31.934 billion riyals in first quarter of the year 2019.
- Saudi Arabia began implementing programs of localizing jobs, including entire sectors gripped by expat workers, with the aim of reducing unemployment rates and providing more job opportunities to the Saudi youth.
- Remittances sent by expatriates from Saudi Arabia in 2019 registered 8% drop to reach 125.5 billion riyals compared to d to 136.4 billion riyals in 2018.