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- Remittances from Egyptian expatriates jumped by 8.8 percent or US$1.9 billion during the first nine months of 2021. In absolute terms, it works out to US$24 billion
- This is according to the data is released by the Central Bank of Egypt (CBE)
- Egyptian expatriates remittances during the first quarter of 2021/20 increased by 1.5 percent to reach US$8.1 billion, compared to US $8 billion during the same quarter of 2020/21.
Remittances from Egyptian expatriates jumped by 8.8 percent or US$1.9 billion during the first nine months of 2021. In absolute terms, it works out to US$24 billion. This is according to the data released by the Central Bank of Egypt (CBE).
Egyptian expatriates remittances during the first quarter of 2021/20 increased by 1.5 percent to reach US$8.1 billion, compared to US $8 billion during the same quarter of 2020/21.In September 2021, remittances dropped by 3 percent at US$2.62 billion, compared to US$2.7 billion during the same month of 2020.
Remittances from expatriates climbed by 10.2 percent or US$1.7 billion during the first seven months of 2021, recording US$18.7 billion, compared to US$17 billion during the same period of 2020.
Remittances during the period from July 2020 until the end of May 2021 was US$28.5 billion, compared to about US$25.2 billion during the same period of the previous fiscal year 2019/20. Remittances in July 2021 came down 3 percent to reach US$2.79 billion, compared to US$2.88 billion during July 2020. Remittances recorded a total of US$205.3 billion, representing 31.7 percent of Egypt’s total foreign exchange earnings during the last 10 years.
