Egyptian Remittances Rise Strongly in October
Egyptian workers living abroad sent $3.7 billion back home in October, according to the Central Bank of Egypt (CBE). This is a 26.2% increase compared to $2.9 billion sent in October last year. The rise shows a strong recovery in remittances, which are an important source of income for Egypt.
Strong Recovery in Remittances
From January to October 2025, Egypt received a record $33.9 billion in remittances. This is a 42.8% increase compared to $23.7 billion during the same period in 2024, the CBE said.
Several factors helped this recovery. One major reason was the devaluation of the Egyptian Pound in March 2024, which made it more attractive for Egyptians abroad to send money through official banking channels. Higher interest rates also encouraged people to save and transfer money into Egypt. These steps helped bring foreign currency exchange rates closer together inside the country.
Remittances remain one of Egypt’s most important sources of foreign currency, along with revenue from the Suez Canal, tourism, and foreign direct investment. This inflow of money helps support the Egyptian Pound, increase foreign currency reserves, and provide income for millions of Egyptian families.
Foreign Reserves Increase
The Central Bank also reported that Egypt’s net international reserves increased slightly. By the end of November, reserves reached $50.21 billion, up from $50.07 billion in October. This increase adds more stability to the country’s financial position.
Growth in Non-Oil Business Sector
Egypt’s non-oil private sector showed strong growth in November, reaching its fastest pace in five years. This growth was supported by higher production and an increase in new business orders, according to the S&P Global Purchasing Managers’ Index (PMI).
The PMI rose to 51.1 in November, up from 49.2 in October. A PMI reading above 50 means the sector is growing, while below 50 shows contraction. November marked the first time since February that the PMI moved into growth territory. It was also the highest level since October 2020.
In the past, a PMI level of 51.1 has usually matched annual GDP growth of more than 5%, suggesting positive momentum for Egypt’s economy.
Overall Economic Growth
Egypt’s economy grew by 4.4% in the 2024–2025 fiscal year, driven by strong performance in the final quarter. During the fourth quarter, GDP growth reached about 5%, the highest level in three years.
This was a strong recovery from 2.4% growth in the 2023–2024 fiscal year and was higher than the government’s earlier forecast of 4.2%.
Economic growth was supported by several key sectors, especially tourism. The tourism sector grew by 19.3% in the fourth quarter and 17.3% for the full fiscal year, making it one of the strongest contributors to Egypt’s economic recovery.
Overall, rising remittances, stronger business activity, and improving economic growth point to a more stable outlook for Egypt’s economy.
Published: 22th December 2025
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