Expat remittance jumps 12% to SR12 billion in January

Expat remittance jumps 12% to SR12 billion in January

RIYADH “” The personal remittance of expatriates recorded an increase of 12 percent, equivalent to SR1.26 billion ($337 million) reaching SR12.06 billion ($3.2 billion) during January 2021, while compared to SR10.79 billion ($2.9 billion) in January 2020, according to the monthly bulletin issued by the Saudi Central Bank.On a monthly basis, the transfers of expatriates posted a decrease of 10 percent in January as against SR13.42 billion ($3.6 billion) in December 2020.At the same time, remittances of Saudis outside the Kingdom increased by 9.4 percent in January 2021 reaching SR 4.27 billion ($1.14 billion), compared to SR3.9 billion ($1.04 billion) in January 2020. On a monthly basis, remittances of Saudis to abroad dropped by 11 percent in January 2021, compared to SR4.79 billion ($ 1.28 billion) in December 2020.According to previous data issued by the General Authority for Statistics (GASTAT), the Kingdom witnessed the exit of about 257,170 foreign workers in the third quarter of 2020, bringing the total number of non-Saudi workers to about 10.2 million workers, compared to