Remittances of Egyptian expats surge to $11.1bln in four months

In April alone, the remittances amounted to $3.10bln, an annual jump of 24.40% from $2.50bln

Staff Writer, Mubasher

July 16, 2022

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Cairo – Remittances of Egyptians working abroad have increased by 7.70% year-on-year (YoY) to around $11.10 billion in the first four months (4M) of 2022, compared to nearly $10.30 billion.

In April alone, the remittances amounted to $3.10 billion, an annual jump of 24.40% from $2.50 billion, according to Ahram Gate.

On a monthly basis, the April remittances value declined by 7.20% from $3.30 billion in March 2022.

It is worth noting that in fiscal year (FY) 2020/2021, the remittances of Egyptian expatriates totalled $31.40 billion, surging by 13.20% from $27.80 billion in FY19/20.

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