Expatriate remittances in Saudi Arabia dropped to their lowest level in fifteen months during February 2026, according to recent official data. The Saudi Central Bank (SAMA) reported that foreign workers sent SAR12.55 billion abroad, representing a 2% decrease from last year.
Recent figures from the central bank highlight a cooling trend in the volume of funds leaving the Kingdom’s financial system. Foreign remittances fell by approximately SAR768 million in February when compared directly to the totals recorded in January 2026. This 6% monthly decline reflects shifting economic patterns among the millions of expatriates currently working within the Saudi private sector.
Local Outflows Also Experience Sharp Drop
Furthermore, the data indicates that Saudi nationals also reduced their personal spending and transfers abroad during this specific reporting period. Remittances by Saudis decreased by 22% compared to February 2025, reaching a total of only SAR4.86 billion this month. Consequently, both local and foreign transfer activities show a synchronized slowdown as the Kingdom pursues its broader economic diversification goals.
Economists suggest that these figures might result from increased local investment opportunities and higher domestic spending under Vision 2030. While the decline represents the lowest figure in fifteen months, the Saudi financial sector remains robust and highly liquid overall. Analysts expect the central bank to monitor these trends closely to ensure continued stability within the regional banking industry.
