8.5% increase in expatriate money transfers in first 9 months of 2021

The preliminary data of the Central Bank of Kuwait for the first 9 months of 2021 revealed that the remittances from expatriates in Kuwait increases 8.5% compared to the same period in 2020.

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The remittance by expatriates during the first quarter of 2021 amounted to 1.36 billion dinars, while they amounted to 1.39 billion dinars during the second quarter, and about 1.36 billion dinars during the third quarter of last year, thus bringing the total remittances of workers in Kuwait, during the first 9 months of 2021, about 4.12 billion dinars, with a steady increase of 8.5%, as workers’ remittances during the same period of 2020 were estimated at 3.8 billion dinars.

The increase in expatriate remittances during this period is due to the closures that Kuwait witnessed during the period last year, and the non-travel of expatriates during the summer and holidays periods to their countries.