Remittances abroad by expatriates in the Kingdom have dropped 6.74 percent last year compared to the previous year, according to the Saudi Arabian Monetary Authority (SAMA).
The total remittances by expatriates reached more than SR752 billion in five years, Al-Hayat newspaper reported on Wednesday quoting statistics issued by SAMA.
In its monthly bulletin, SAMA said the largest remittances the expatriates have made were in 2015 when it reached SR157 billion, representing about 21 percent of all remittances, while the lowest were in 2017 when they stood at SR141.6 billion, representing 19 percent of all outside remittances.
According to the bulletin, the remittances were SR14.04 in December 2017, compared to SR13.5 billion in the same month the previous year and were SR12 billion in November 2017.
SAMA said the expats' remittances were SR141.6 billion in 2017, compared to SR152 billion in 2016 with a drop of 6.74 percent.
It said the highest remittances in 2017 were in December when they reached SR14.04 billion followed by May (SR13.04 billion) and March (SR12.75 billion). The authority said the lowest remittances were in September 2017 when they were only SR8.5 billion.
SOURCE : SAUDIGAZETTE
