Muscat - Total remittances of expatriate workers in the Gulf Cooperation Council (GCC) countries amounted to RO50.6 billion ($131.5 billion) by the end of 2023.
The latest data released by the Statistical Center for the Gulf Cooperation Council indicates that the volume of remittances from expatriate workers in the GCC countries is the highest globally, followed by remittances from the United States.
Data from the center indicates that total remittances from expatriate workers in GCC countries abroad by the end of 2023 decreased by about half a billion US dollars compared to 2022, a decrease of 0.4 percent, following significant increases in 2021 and 2022 of 9.2 percent and 3.8 percent, respectively.
The share of these remittances in the Gulf's GDP (at current prices) declined from 8.1 percent in 2020 to 6 percent in 2022, rising slightly in 2023 to remain at 6.2 percent.
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