Expat remittances seem insensitive to the COVID-19 crisis.
According to data from the Central Bank of Tunisia (BCT), these remittances reached a record of 5.8 billion dinars in 2020, up 11.3% compared to the previous year, accounting for 5.3% of GDP.
Valued in foreign currency on the basis of BCT monthly exchange rates, expat remittances amounted to €1.74 billion or $ 2.1 billion, compared to €1.64 billion or $1.82 billion dollars in 2019.
In euro-dollar terms, i.e., assuming that two-thirds of remittances are denominated in euros and the rest in dollars, they amounted to 1.86 billion based on monthly euro-dollar exchange rates, compared to 1.7 billion in 2019 and 1.33 billion in 2010.
Tunisian expats have brought in throughout the decade 2010 as much foreign currency as tourism (3.8% of GDP on average between 2010 and 2020).