CAIRO – Egypt has been ranked the fifth worldwide in receiving remittances sent by nationals living abroad with a total value of dlrs 32 billion, according to data issued by the World Bank (WB) for the year 2021, said the Central Agency for Public Mobilization and Statistics (CAPMAS).
This came in a statement issued by the CAPMAS to mark the “International Day of Family Remittances 2023”, which is celebrated on June 16 each year.
India came in the first place worldwide in terms of remittances sent by nationals with a value of dlrs 89 billion, followed by Mexico in the second place with the value of remittances it received standing at dlrs 54 billion, according to data released by the WB.
With total remittances estimated at dlrs 53 billion, China came in the third place worldwide, followed by Philippines in the fourth place with remittances recording dlrs 37 billion.
Pakistan had been ranked the sixth, with a total value of remittances amounting to dlrs 31 billion, according to the WB.
Throughout the past six years, the remittances of Egyptian expats have witnessed a momentum rise to reach dlrs 31.9 billion in the fiscal year 2021-2022, up from dlrs 21.8 billion in the fiscal year 2016-2017, according to data released by the Central Bank of Egypt.
The International Day of Family Remittances aims to recognize the contributions made by more than 200 million expatriates to better the lives of their family members back home.
The day has been endorsed by the General Assembly of the United Nations and is globally recognized. Half of these remittances are sent to rural communities, where they can have a significant impact. The day aims to increase awareness of the impact that these contributions have on families, communities, and nations.
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