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Tunisia: expat remittances reach record level

Tunisian expat remittances saw an increase in October for the fourth consecutive month. Thus, over the first ten months of the year, they recorded a growth of 9.7% in dinars and 8.6% in euro-dollars, according to Central Bank data.

These indicate that Tunisia has garnered during the first ten years of 2020 nearly 4.69 billion dinars of income transfers from Tunisians residing abroad, up 415 million dinars compared to the same period last year.

Expat remittances thus represent 4.3% of GDP, a record never reached before. This ratio stood at 3.7% of GDP in 2019.

In euro-dollar terms, i.e., assuming that two-thirds of transfers are denominated in euros and the rest in dollars, transferred revenues amounted to 1.53 billion on the basis of monthly euro-dollar exchange rates, compared with 1.4 billion at the end of October 2019 and 1.12 billion at the end of October 2010.

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