Workers’ remittances record highest YoY growth

Meanwhile, workers’ remittances continued to increase notably for the fourth consecutive month, recording a healthy growth of 36.1 percent in September 2020, year-on-year (YoY), to US $ 703 million. 

According to the Central Bank, this was the highest YoY growth recorded by workers’ remittances since end-2011.
This increase led the cumulative earnings in workers’ remittances to record a growth for the first time, after experiencing cumulative declines for six months since March 2020. 

Accordingly, workers’ remittances grew by 2.4 percent to US $ 5,049 million during the period from January to September 2020, in comparison to the corresponding period of 2019.