Riyadh – Mubasher: The volume of foreign remittances in Saudi fell 35% to SAR 10.3 billion in July from SAR 15.8 billion in June, to be the lowest volume since February 2013.
Foreign remittances were down 19% or SAR 2.4 billion year-on-year in July 2016, according to data released by the Saudi Arabian Monetary Agency (SAMA).
Saudi nationals' transfers also declined 38% to SAR 3.4 billion July from SAR 5.5 billion in June, to be the lowest since January 2007.
"The average monthly amount remitted by foreign workers in July was SAR 1,096, compared to SAR 1,685 in June," SAMA said.
About 8.7 million foreign employees are working in the Saudi private sector, besides 720,000 household workers.
Adding around 72,000 foreigners work in the public sector makes the total number of foreigners employed in the Kingdom 9.4 million, according to the Ministry of Labor.
