RIYADH — Personal remittances by expatriates residing in Saudi Arabia totaled SR15.213 billion during July 2020, up 32.7 percent as compared to SR11.461 billion in July 2019. On a monthly basis, the total personal money transfers by expatriates residing in the Kingdom registered an 8.9 percent increase, as last June the remittances reached SR13.9 billion. The value of remittances by expatriates in Saudi Arabia amounted to SR33.855 billion in Q1 2020, compared to SR31.934 billion in Q1 2019, up 6 percent. Meanwhile, remittances by Saudis to countries abroad fell by 29.5 percent last July to reach SR3.827 billion as compared to SR5.427 billion in July 2019. On a monthly basis, Saudi remittances to overseas countries decreased by 6.9 percent, reaching SR4.114 billion last June. Saudi Arabia began implementing programs to localize jobs, including entire sectors controlled by expatriate workers, with the aim of reducing unemployment rates and providing job opportunities to the Saudi youth. Personal remittances during 2019 by expatriates residing in the Kingdom registered an 8 percent drop to reach SR125.5 billion as compared to SR136.4 billion in 2018.
