Remittances towards Sub-Saharan Africa are forecast to slow down in growth in 2023 compared to previous years. In 2022, Sub-Saharan countries received remittances valued at an estimated 53 billion U.S. dollars. By 2023, this value is predicted to increase to 54 billion U.S. dollars. The region saw the largest increase in 2021, after the coronavirus pandemic led to a significant decline in 2020.
Remittance flows to the Sub-Saharan Africa region from 2016 to 2022, with forecasts for 2023 and 2024
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Remittance value (in billion U.S. dollars)
Year-on-year percentage change (%)
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World Bank. (June 30, 2023). Remittance flows to the Sub-Saharan Africa region from 2016 to 2022, with forecasts for 2023 and 2024 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/962822/remittance-flows-to-sub-saharan-african-countries/
World Bank. "Remittance flows to the Sub-Saharan Africa region from 2016 to 2022, with forecasts for 2023 and 2024." Chart. June 30, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/962822/remittance-flows-to-sub-saharan-african-countries/
World Bank. (2023). Remittance flows to the Sub-Saharan Africa region from 2016 to 2022, with forecasts for 2023 and 2024. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/962822/remittance-flows-to-sub-saharan-african-countries/
World Bank. "Remittance Flows to The Sub-saharan Africa Region from 2016 to 2022, with Forecasts for 2023 and 2024." Statista, Statista Inc., 30 Jun 2023, https://www.statista.com/statistics/962822/remittance-flows-to-sub-saharan-african-countries/
World Bank, Remittance flows to the Sub-Saharan Africa region from 2016 to 2022, with forecasts for 2023 and 2024 Statista, https://www.statista.com/statistics/962822/remittance-flows-to-sub-saharan-african-countries/ (last visited July 22, 2024)
Remittance flows to the Sub-Saharan Africa region from 2016 to 2022, with forecasts for 2023 and 2024 [Graph], World Bank, June 30, 2023. [Online]. Available: https://www.statista.com/statistics/962822/remittance-flows-to-sub-saharan-african-countries/