Remittances from Egyptians abroad surge 43% YoY in 9 months

Mohamed Abd El Ghany

In September alone, remittances doubled, surging by 108% compared to the same period in 2023, totaling $2.7bln

Staff Writer, Arab Finance

November 26, 2024

PHOTO

Egypt - The Central Bank of Egypt (CBE) announced that remittances from Egyptians working abroad reached $20.8 billion in the first nine months of 2024, reflecting a 43% year-on-year (YoY) increase.

In September alone, remittances doubled, surging by 108% compared to the same period in 2023, totaling $2.7 billion.

In the third quarter (Q3) of 2024, remittances soared 84.4% YoY to $8.3 billion.

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