Even prior to the financial collapse of 2019, the percentage of expatriate remittances from GDP in Lebanon did not exceed 14.5 per cent in 2018. Lebanon experienced a massive 37.3 per cent decline in its domestic product since the crisis, which amplified the weight of expatriate remittances compared to the dwindling local economy. In third place is Jordan, with the percentage of expatriate remittances to GDP estimated at around 9.7 per cent. MENA nations with the highest inflows of moneyEgypt tops the list of North African and Middle Eastern countries in terms of the volume of expatriate remittances received in US dollars. Expatriate remittances to Morocco saw consecutive increases of 14.6 per cent in 2022 and 37.5 per cent in 2021, leading to a record level of $11.4 billion in 2022.

Source: The North Africa Journal April 06, 2023 14:44 UTC