Expatriate remittances in Saudi Arabia increased by 12% in May, reaching over SR12 billion compared to the same month last year, according to official figures.

The Saudi Central Bank reported that May remittances hit SR12.6 billion, a 12% rise from SR11.2 billion in May 2023. Additionally, there was an 11% increase from April, which saw remittances of SR11.3 billion.

Saudi citizens also increased their transfers abroad in May, reaching SR6.1 billion—a 6% rise from SR5.8 billion in May last year.

Saudi Arabia hosts a significant expatriate workforce. Recent years have seen efforts to regulate and enhance the labor market to attract skilled workers. In 2020, major labor reforms were introduced, improving the sponsorship system and allowing job mobility and visa regulation without employer approval.

The Saudi General Authority for Statistics reported that the kingdom's population was 32.2 million in the latest census, with 13.4 million foreigners, making up 41.5% of the population. Bangladeshi nationals led the foreign community with 2.1 million people, followed by 1.88 million Indians and 1.81 million Pakistanis.