Remittances from Egyptian expats record $27.1B in 11 months of 2020

CAIRO – 2 February 2021: Remittances from Egyptian expatriates rose 11.9 percent during the first 11 months of 2020, to record $27.1 billion, up from $24.2 billion during the same months of 2019, according to the Central Bank of Egypt (CBE). 

CBE added in a statement that remittances from Egyptian expatriates recorded $2.6 billion in November 2020, marking an annual increase of 27.9 percent or $568.7 million. On a monthly basis, remittances hiked by $262.9 million.

Remittances from Egyptian expatriates  hiked during the first quarter (Q1) of the fiscal year of 2020/2021 to reach $8 billion, compared to $6.7 billion during the same quarter of the fiscal year of 2018/2019.

In September, they rose 16 percent, recording $2.7 billion, compared to $2.3 billion in September 2019

During January/ September 2020, remittances from Egyptian expatriates hiked 11.6 percent, recording $22.1 billion, compared to $19.8 billion in September 2019, the issued data revealed.

Moreover,  remittances from Egyptian expatriates hiked 10.4 percent during the fiscal year of 2019/2020 to reach $27.8 billion, recording its highest record ever, compared to $25.2 billion during the fiscal year of 2018/2019.