REMITTANCES FROM SAUDI AND ABROAD DECREASED AGAIN. THIS IS THE FOURTH CONSECUTIVE YEAR THAT REMITTANCES FROM ABROAD HAVE BEEN DOWN. THE NUMBER OF EXPATRIATES SENT ABROAD ALSO DECLINED.
THE NUMBER OF REMITTANCES SENT BY EXPATRIATES WORKING ABROAD HAS DECLINED LAST YEAR. THIS IS THE FOURTH CONSECUTIVE YEAR SINCE 2016 THAT FOREIGNERS' REMITTANCES HAVE FALLEN. THE SAUDI ARABIAN MONETARY AUTHORITY (SAMA) HAS RELEASED THE FIGURES FOR THE YEAR. LAST YEAR, THE NUMBER OF FOREIGNERS SENT HOME WAS ONE HUNDRED AND TWENTY-FIVE MILLION FIVE HUNDRED RIYALS.
THE PREVIOUS YEAR, THE FIGURE WAS ONE BILLION AND THIRTY-FOUR BILLION REAL. THERE WAS A DECLINE OF 8%. THIS IS THE LOWEST REMITTANCE RATE IN SEVEN YEARS. THE THIRD DECADE IS DOWN SEVEN PERCENT IN 2018, SIXTH IN 2017, SEVEN PERCENT, AND IN 2016, THE THIRD DECADE IS DOWN TWO PERCENT.
THE ALL-TIME RECORD OF OVERSEAS REMITTANCES IN 2015 WAS ONE HUNDRED AND FIFTY-SIX MILLION, EIGHTY-SIX BILLION REALS. LAST YEAR, THE AMOUNT OF EXPATRIATES SENT ABROAD FOR VARIOUS PURPOSES DECREASED. THE THIRD TITHE WAS DOWN SIX PERCENT. THE DECLINE IS THE SECOND CONSECUTIVE YEAR.
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