Remittances in Saudi Arabia for July fell by 5.86% to SR11.46bn ($3bn), compared to SR12.17bn ($3.2bn) in July 2018, according to the latest monthly report from the Saudi Arabian Monetary Authority (SAMA).
In the first quarter of 2019, remittances from Saudi Arabia fell by 3% to $8.5bn, compared to $8.77bn in the first quarter of 2018.
On a monthly basis, foreigners' remittances jumped 31.5% in July from $2.72 in June. The remittances of foreigners in Saudi Arabia amounted to about $36.3bn in 2018, down by 4% compared to $37.7bn in 2017.
Meanwhile, the remittances of Saudis abroad rose by 20% to $1.44bn in July, compared to$1.20 in July 2018. On a monthly basis, remittances from Saudis rose by 54.4% from June to $936m.
The SAMA report also showed that net foreign assets stabilised on a monthly basis to hit $497bn. Private sector loans rose slightly in July to $394bn compared to June and increased by 3%, compared with July 2018.