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Zimbabwe diaspora remittances exceed US$2 billion

Remittances by Zimbabweans abroad last year rose to nearly US$2.2 billion up from $1.8 billion in 2023 accounting for 16.2% of the country’s total foreign currency receipts.

Exports rose from US$6.1 billion in 2023 to US$7.9 billion while funds from non-governmental organisations dropped by 2% from nearly US$1.21 billion to US$1.18 billion.

Total receipts were up by 21% from US$11 billion to US$13.3 billion.

Zimbabwe is expecting a surplus of US$501.2 million in 2024 up from US$133.9 million in 2023 largely because of the strong remittance inflows and higher export growth.

 

(269 VIEWS)

This post was last modified on February 7, 2025 12:51 pm

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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