Remittances from Egyptians expatriates declined by 23% during the second half of 2022 on an annual basis, to reach $12 billion, according to Central Bank data issued today, Wednesday.
Remittances from Egyptian expatriates amounted to $15.6 billion during the second half of 2021.
Furthermore, the remittances from Egyptians expatriates decreased by 20.9% during the third quarter of 2022 (July-September), to record $6.4 billion, compared to about $8.1 billion in the same period of 2021.
During the first eight months of 2022, the remittances from Egyptian expatriates recorded $20.9 billion, compared to $21.4 billion during the same months of 2021, according to the CBE’s previously announced data.
Remittances from Egyptians abroad are among the country's largest sources of foreign exchange, as remittances from Egyptians abroad amounted to about $31.9 billion during the fiscal year 2021/2022, compared to $31.4 billion during the fiscal year 2020/2021.
CBE
