Egypt Daily News – The remittances sent by Egyptians working abroad have continued their steady and remarkable upward trend, achieving an unprecedented surge during the period from July to March of the 2024/2025 fiscal year.
These transfers recorded a notable annual increase of 82.7%, reaching approximately 26.4 billion dollars, compared to about 14.4 billion dollars in the same period of the previous year. This significant growth highlights the increasing economic contribution of the Egyptian diaspora to the country’s economy.
The third quarter of the fiscal year (January to March 2025) showed exceptional momentum, with remittances reaching around 9.4 billion dollars, an impressive 86.7% increase year-on-year, up from 5 billion dollars during the same quarter last year. This sharp rise reflects both growing employment opportunities for Egyptians abroad and stronger ties between expatriates and their families back home.
On a monthly scale, remittances in March 2025 also surged, increasing by 63.7% compared to March 2024, reaching approximately 3.4 billion dollars versus 2.1 billion dollars the previous year. This steady monthly growth is a positive indicator of sustained inflows, which are critical for supporting Egypt’s foreign currency reserves and overall economic stability.
The continuous rise in remittances plays a vital role in boosting the country’s financial resilience. It helps to bridge the trade deficit, supports household incomes, and contributes to development projects. This trend also underscores the importance of the Egyptian workforce abroad and their ongoing commitment to supporting their families and the national economy during challenging global economic conditions.
