Workers remittances up 10% to $ 6.5 b in 2024; Dec. gives high $ 614 m boost

Wednesday, 15 January 2025 00:22 - - {{hitsCtrl.values.hits}}

Workers’ remittances in 2024 grew by 10% to $ 6.57 billion from the previous year.

The crossing of $ 6.5 billion mark was following the receipt of a high $ 614 million in December 2024. The December 2024 figure surpassed the previous best of $ 612 million achieved in March of 2021 whilst in the same year January saw a receipt of $ 675.3 million. December 2020 saw the highest ever figure of $ 813 million. December 2024 inflow was higher in comparison to $ 530 million in November and $569.7 million in December 2023.

In 2023, workers’ remittances grew by 57% to $ 6 billion. This was after inflows in 2022 fell by 31% to $ 3.78 billion lowest in 12 years.

Highest ever workers’ remittances were in 2016 at $ 7.24 billion whilst between 2014 and 2018 the annual average was $ 7 billion suggesting a monthly inflow of around $ 600 million.