Foreigners’ Remittances from Saudi Arabia Jump 20.7% to 15.2 Billion Riyals in May

Foreign workers in Saudi Arabia transferred 15.2 billion riyals out of the country in May, a 20.7% increase from 12.6 billion riyals in the same month last year, Saudi Central Bank (SAMA) data revealed.

May’s remittances also rose 20.5% compared to April 2025, when foreigners transferred 12.61 billion riyals.

Conversely, remittances by Saudi nationals declined in May 2025, falling 11.2% year-on-year to 5.49 billion riyals from 6.18 billion riyals in May 2024. However, this marked a slight 0.7% increase from 5.45 billion riyals in April 2025.

According to SAMA’s May 2025 bulletin, local banks sold approximately 59.5 billion riyals in May, which was converted to foreign currency for other clients within the Kingdom. This represents a 9.7% increase from the 54.3 billion riyals sold in April. However, it was a 0.65% decrease from the 59.93 billion riyals in foreign currency sales recorded in May 2024.

Foreigners’ remittances reached 144.2 billion riyals in 2024, a 13.7% increase from 124.9 billion riyals in 2023. This marks the highest level in three years, specifically since 2021.