Workers’ remittances record highest-ever April inflow

Wednesday, 14 May 2025 01:08 - - {{hitsCtrl.values.hits}}

April inflow up 19% YoY to $ 646.1 m
First four months’ remittances up 18.3% to over $ 2.46 b

Workers’ remittances hit a record high for the month of April, surging to $ 646.1 million, marking the second consecutive month of record inflows for 2025, the latest Central Bank data revealed.

The April inflow reflects a robust 19% year-on-year (YoY) growth, although it registered a 7.3% dip compared to March 2025.

The April 2025 figure is also the fourth-highest monthly remittance inflow in history, behind $ 812.7 million recorded in December 2020, $ 729.35 in January 2018 and $ 693.3 million in March 2025.

The improved inflows during April also boosted the cumulative remittances for the first four months of 2025, which reached over $ 2.46 billion—an 18.3% YoY increase and the highest cumulative in the period since 2021.

The cumulative figure also represents a 4% increase compared to the $ 2.37 billion registered in the same period of 2016 — the year that holds the record for the highest annual workers’ remittances inflow at $ 7.24 billion.

In 2024, workers’ remittances hit a four-year high of $ 6.57 billion, up by 10.1% from $ 5.69 billion in 2023. This growth was followed by a record wave of people seeking foreign employment after an unprecedented economic crisis.

The sharpest post-crisis rebound was in 2023, when workers’ remittances grew by 57% to $ 6 billion, recovering from a 12-year low of $ 3.78 billion in 2022.

Historically, the highest-ever annual workers’ remittances were recorded in 2016, whilst between 2014 and 2018, the annual inflows averaged around $ 7 billion, or roughly around $ 600 million per month.