Ethiopians overseas send home, over half a billion dollar

October 26, 2007 (ADDIS ABABA) — The national bank of Ethiopia today said Ethiopians living in different corners of the world have send home,632.6 million dollar to their families at home in the year of 2006.

The foreign currency, the Ethiopians in Diaspora send home accounts 4.4% of the total gross domestic product (GDP) of the nation.

According to the bank, the amount of money coming home from citizens abroad is increasing every year and the total foreign currency to arrive home in 2007 is expected to reach top in record.

The total amount mentioned is only the money which came through legal money transfer system of banks and it doesn’t include the money which is arriving home through other different ways, the bank added.

According to a UN annual report released this week; 30 million citizens of sub-Saharan countries live overseas and an average of 39 Billion dollars reach home each year from them.

In Africa- morocco, Nigeria, Algeria, Egypt, and Tunisia are the top five countries which collect a big amount of money from their citizens working abroad

In 2006, world wide, Citizens of nations working abroad have sent a total of 300 billion dollars to their families at home.

(ST)