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· Remittances from Egyptian expatriates increased 13 percent or US$3.3 billion during 11 months from July to May of 2020-21, recording US$28.5 billion, compared to US$25.2 billion during the same period of 2019-20, according to the Central Bank of Egypt (CBE)
· The increase in remittances from Egyptians working abroad during the period from July 2020 until the end of April registered US25.8 billion, compared to about US$23.4 billion during the same period of the previous fiscal year 2019-20
Remittances from Egyptian expatriates increased 13 percent or US$3.3 billion during 11 months from July to May of 2020-21, recording US$28.5 billion, compared to US$25.2 billion during the same period of 2019-20, according to the Central Bank of Egypt (CBE).
The increase in remittances from Egyptians working abroad during the period from July 2020 until the end of April registered US25.8 billion, compared to about US$23.4 billion during the same period of the previous fiscal year 2019-20.
The data showed that remittances from Egyptian expatriates during May 2021 increased 45.2 percent to reach US$2.6 billion. This was US$1.8 billion during May 2020. Earlier, remittances from Egyptian expatriates recorded a total of US$205.3 billion, representing 31.7 percent of Egypt’s total foreign exchange earnings over 10 years. The value of remittances from Egyptians expatriates amounted to US$12.6 billion during the fiscal year of 2010-11, compared to US$18 billion during 2011-12, marking an increase of 42.7 percent, and rose in the following fiscal year to record US$18.7 billion, with an increase of 3.9 percent compared to the fiscal year 2011-12.
