• 113.9 billion riyals transfers of foreigners in 11 months .. fell 8.9%


    ​​Total foreign remittances from the beginning of this year until the end of last November amounted to 113.9 billion riyals, registering a decrease of 8.9 percent, "about 11.15 billion riyals", compared to 125.1 billion riyals for the same period last year.​

    Whereas foreign transfers during the month of November 2019 increased slightly by 0.1%, reaching 9.91 billion riyals, compared to 9.89 billion riyals for the same period last year, a difference of about 14.5 million riyals.​

    According to the monitoring unit of the reports in the "Al-Iqtisadiya" newspaper, based on the data of the Saudi Arabian Monetary Agency "SAMA", foreign transfers from the beginning of this year until the end of November are still registering a decline compared to last year.​

    ​On a monthly basis, foreign remittances declined during the month of November 2019, by about 10.2 percent, or about 1.12 billion riyals, compared to October transfers of the same year, amounting to about 11.04 billion riyals.​

    Remittances during the month of June last recorded the lowest monthly transfers for foreigners in about two years, at which time they reached 8.7 billion riyals, while last July's transfers recorded the highest transfers for foreigners during the current year by 11.46 billion riyals.​

    Remittances by foreigners during 2018 are the lowest in nearly six years, as they continued to decline for the third year in a row.

    Foreign remittances reached about 136.4 billion riyals last year, while foreign remittances are expected to decline in 2019 for the fourth year in a row.
    Whereas, the remittances of the Saudis jumped abroad during the month of November, by about 23.8 percent, compared to the same period last year.
    The remittances of the Saudis abroad last month amounted to about 5.9 billion riyals, compared to about 4.8 billion riyals for the same period last year, registering an increase of 1.14 billion riyals.
    On the other hand, it increased on a monthly basis by about 14.8% during the last month, as it was about 5.18 billion riyals in October 2019.​
    Meanwhile, the total remittances of Saudis abroad from the beginning of this year until the end of November declined by 4.6 percent, reaching 55.13 billion riyals compared to 55.74 billion riyals during the same period of 2018, a difference of about 2.6 billion riyals.​

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