Remittances from Egyptian expats in BRICS nations hit $10.4b in FY22/23

Remittances from Egyptian expatriates working in BRICS countries recorded $10.4 billion during the fiscal year 2022/2023, down from $14.5 billion in the previous year, according to the country’s official statistics agency CAPMAS data on Wednesday.

Saudi Arabia continued to be the primary source of remittances for Egyptian expatriates in BRICS, contributing $8.3 billion. The UAE followed with $2.1 billion, while remittances from China, Russia, and India were relatively smaller.

Meanwhile, remittances from BRICS expatriates working in Egypt fell to $95 million in 2022/2023, compared to $103 million in the previous fiscal year.

Attribution: Emailed CAPMAS report

Subediting: Y.Yasser