Tunis/Tunisia — Remittances from Tunisians abroad rose to TND 9,468.4 million in 2022 against TND 8,617.8 million in 2021, up 9.9%, according to a document published by the Office of Tunisians Abroad (OTE) on the evolution of remittances from Tunisians abroad for 2021 and 2022.

These remittances increased by 14.6% to TND 1,928.7 million in the first quarter (Q1) of 2022 compared to Q1 of 2021.

In Q2 of 2022, remittances grew by 17.4% to TND 1,928.7 million against 1,872 million in the same period of 2021.

Remittances from Tunisians abroad also rose by 2.9% in Q3 to TND 3,193 million compared with TND 3,104 million in 2021, while in Q4 of 2022, an increase of 9.9% was recorded to TND 9,468 million compared with TND 8,617 million in the same period of 2021.

OTE Director General Mohamed Mansouri told TAP last September that Tunisians abroad are the first source of foreign currency for the Tunisian economy, pointing out that until the end of July 2022, transfers had reached TND 5,000 million, i.e. a 640 million TND rise compared to the same period in 2021.

He said that these remittances, which had provided 20% of the national foreign exchange reserves, had helped cover the external debt in the first seven months of 2022 exceeding the income from the tourism sector in the same period of 2022.

Mansouri pointed out that the OTE is currently seeking to direct these remittances, which are generally used for housing, services and the support of expatriates' families, towards investment in productive sectors, which would help create wealth and reboot the national economy.