{"id":216470,"date":"2022-01-03T12:48:51","date_gmt":"2022-01-03T12:48:51","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=216470"},"modified":"2022-01-03T12:48:51","modified_gmt":"2022-01-03T12:48:51","slug":"foreign-remittances","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/foreign-remittances\/","title":{"rendered":"Saudi Arabia: Foreign remittances in December hit 4-year high"},"content":{"rendered":"

Foreign remittances in Saudi Arabia rose to 7.18 billion riyals ($1.91 billion) in December 2021. This is a the highest level in four years.<\/p>\n

According to the Okaz newspaper, foreign remittances jumped by 48.26 percent on an annual basis, compared to 4.85 billion riyals ($1.29 billion) in 2020.<\/p>\n

Remittances from foreigners also recorded a decline of 3.75% on a monthly basis, compared to November 2021, when they amounted to 7.95 billion riyals ($2.12 billion).<\/p>\n

The remittances amounted to 12.97 billion riyals ($3.45 billion), representing 64.36% of the Kingdom’s total remittances abroad during 2021.<\/p>\n

Remittances were affected by the repercussions of the pandemic. They continued a decline that began in 2019, when they were affected by the decline in oil prices.<\/p>\n

Remittances from foreigners in 2015 were the largest, at 156.86 billion riyals ($41,780 billion).<\/p>\n

Saudi stocks<\/h2>\n

In a separate context, Saudi stocks ended the year 2021 with a rise of close to 30%. This is the sixth consecutive annual rise and the largest rise since 2007.<\/p>\n

During the year-end trading, the Saudi Stock Exchange<\/a> outperformed the largest global stock exchanges, reaching 11281.7 points on December 30, 2021. This is compared to 8689.5 points at the end of 2020.<\/p>\n

The index increased by the end of the year by 16,713 points, representing an increase of 29.8%, driven by the rise in crude prices and the initiatives launched by the Kingdom during the past year to stimulate the private sector through.<\/p>\n

According to Al-Eqtisadiah the performance of the Saudi market in 2021 was the best in 14 years, after it rose 39.1% in 2007.<\/p>\n

The rises of Saudi stocks during 2021 were among the seven largest in the history of Saudi stocks since its launch in 1985.<\/p>\n

The world’s stock exchanges ended the year on a collective rise, driven by investors taking risks, with the repercussions of the epidemic significantly receding.<\/p>\n

Saudi stocks were the best performers, followed by American and European stocks.<\/p>\n

The TASI index advanced all shares after closing at a rise of 29.8%, followed by the French CAC index (29%), and then the American S&P-500 index (27%).<\/p>\n

Saudi stocks rebounded during the last months of 2021, supported by high oil prices.<\/p>\n","protected":false},"excerpt":{"rendered":"

Foreign remittances in Saudi Arabia rose to 7.18 billion riyals ($1.91 billion) in December 2021. This is a the highest level in four years. According to the Okaz newspaper, foreign remittances jumped by 48.26 percent on an annual basis, compared to 4.85 billion riyals ($1.29 billion) in 2020. Remittances from foreigners also recorded a decline […]<\/p>\n","protected":false},"author":4,"featured_media":216480,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[278,576],"class_list":["post-216470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-featured","tag-saudi-arabia"],"yoast_head":"\nSaudi Arabia: Foreign remittances in December hit 4-year high| BNReport<\/title>\n<meta name=\"description\" content=\"BNReport| Foreign remittances in Saudi Arabia rose to 7.18 billion riyals in December 2021. 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