By Mohammed Al-Sobhi

Okaz/Saudi Gazette

JEDDAH — Remittances by expatiates have dropped by about 21.6 percent in May, 2019 reaching SR9.99 billion compared to SR12.75 billion the same month last year, according to Saudi Arabian Monetary Authority (SAMA).

The authority said during the first quarter of the year, the remittances dropped to SR31.9 million from SR32.9 billion during the same period in 2018.

SAMA said in April 2019, the remittances dropped by about 6.8 percent to stand at SR10.72 billion.

The authority said the expatriates' remittances were SR136.432 billion in the year 2018 dropping by about four percent from their amount in 2017 which was SR141.6 billion.

The foreign money transfers made by the Saudis increased by 4.7 percent in May 2019 to reach SR6.2 billion compared to SR5.9 billion in May 2018. In April 2018, the remittances were SR5.06 billion

SAMA said on a monthly basis, Saudi transfers increased by 22.7 percent.