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FINANCIAL NEWS
Saudis’ abroad remittances hit USD180.16b in a decade
01 Mar 2015
(MENAFN) Saudi remitted a sum of USD180.16 billion from Saudi individuals to overseas countries over the past 10 years, according to the Saudi Arabian Monetary Agency (SAMA), Saudi Gazette reported.
The remittances value rose annually from 2004 until 2010 when they witnessed a drop. In 2014 alone, Saudi remitted a sum of about USD23.45 billion.
Together with USD255.85 billion expatriates remitted over the same period, Saudis and non-Saudis sent a total of USD436.01 billion abroad.
The value of such transactions in the Kingdom increased from USD97.01 billion in 2008 to USD146.31 billion in 2014, nearly a fifth of the GDP, according to estimations.
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