Historic Record of Remittances by Foreign Workers to Their Countries, Iran’s Share Unchanged

The World Bank reported in its latest annual report a historic record of remittances sent by migrants or workers active abroad to their home countries.

Last year, over $773 billion in remittances were recorded from workers active abroad to their home countries, representing approximately 8 percent growth compared to 2020. More than 78 percent of this amount is related to workers from poor and developing countries.

Iranian workers’ share of this amount is $1.3 billion, which has remained unchanged compared to previous years. This is while, for example, Egyptian citizens working in foreign countries sent $31.5 billion in income to their country last year, accounting for 8 percent of the country’s gross domestic product.

Approximately 9.5 million Egyptian citizens work outside their country, with half of them working in Saudi Arabia. Citizens of Morocco, Lebanon, and Jordan combined sent over $20 billion to their countries, and even foreign workers from the Gaza Strip sent three times more money to their territory than Iranian workers.

The Islamic Republic has attempted over the past few years to utilize the capacity of 5 million citizens living abroad to attract their capital and income, but has been unsuccessful.

The arrest and detention of dual nationals and their exchange—a practice repeatedly condemned by governments and human rights organizations worldwide and described as “hostage-taking” and “extortion” aimed at “advancing political objectives”—coupled with widespread corruption and lack of economic transparency, the collapse of the rial’s value, and sanctions have fueled concerns among Iranians residing abroad about sending their capital or income into Iran.

Source: Radio Farda