MUSCAT : Latest data from the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicates that the volume of remittances from expatriate workers in the GCC countries is the highest globally, followed by remittances from the United States.

However, the data reveals a slight decrease in the volume of remittances compared to the previous year, with a reduction of approximately half a billion US dollars, marking a 0.4 percent decline. This follows a period of significant growth in 2021 and 2022, with increases of 9.2 percent and 3.8 percent, respectively.
The share of these remittances in the Gulf’s GDP (at current prices) saw a decline from 8.1 percent in 2020 to 6 percent in 2022, before rising slightly in 2023 to remain at 6.2 percent.

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