Economic Research | Lebanon This Week | Lebanon This Week 566 | Remittance inflows to Lebanon at $3.6bn in first half of 2018 | Lebanon | Byblos Bank

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Byblos Bank

Lebanon This Week 566

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Remittance inflows to Lebanon at $3.6bn in first half of 2018

Figures released by Banque du Liban show that expatriates' remittance inflows to Lebanon totaled $3.61bn in the first half of 2018, constituting an increase of 0.3% from $3.6bn in the first half of 2017 and a rise of 4.2% from $3.47bn in the second half of 2017. Remittance inflows to Lebanon reached $1.85bn in the first quarter of 2018, unchanged from the same quarter of 2017, while they totaled $1.76bn in the second quarter of 2018, up by 0.6% from the same quarter of 2017. The figures include workers' remittances and the compensation of employees, according to the World Bank's definition of remittances. Banque du Liban's figures are the only official data on remittance flows to and from Lebanon.

In addition, remittance inflows to Lebanon in the first half of 2018 increased to their fourth highest semi-annual level between 2002 and 2018. Remittance inflows to the country averaged $3.56bn during the first half of each year between 2008 and 2018, and reached a high of $3.79bn in the first half of 2008. Overall, remittance inflows to Lebanon grew at a compound annual growth rate of -0.5% between the first half of 2008 and the same period of 2018.

In parallel, remittance outflows from Lebanon amounted to $2.37bn in the first half of 2018, up by 11.2% from $2.13bn in the first half of 2017 and by 2.3% from $2.3bn in the second half of 2017. As such, net remittance inflows to Lebanon reached $1.24bn in the first half of 2018, their seventh highest level for the first half of a year since 2002, and increased by 8% from $1.14bn in the second half of 2017. They decreased by 15.5% from $1.46bn in the first half of 2017.
 
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