Egyptian Remittances Rise by 49.7% in First Half of 2025

Remittances from Egyptians working abroad reached USD 23.2 billion between January and July 2025, up 49.7% from USD 15.5 billion in the same period of 2024. July recorded USD 3.8 billion, the highest monthly inflow on record, up 26.3% from USD 3 billion in July 2024, according to the Central Bank of Egypt. Remittances are one of Egypt’s main sources of foreign currency alongside tourism, Suez Canal revenues, and foreign direct investment. The central bank linked the sharp rise to the flexible exchange rate system adopted in March 2024, which included a significant devaluation of the Egyptian pound and formed part of a programme backed by the International Monetary Fund. For the full year 2024, remittances rose 51.3% to about USD 29.6 billion from around USD 19.5 billion in 2023, according to the central bank. The Central Agency for Public Mobilisation and Statistics reported that the number of Egyptian expatriates stood at 11.09 million by the end of 2023.