West Africa has the highest concentration of remittance-dependent nations, with 10 countries in the top 20, led by The Gambia (21.1%)

  • The Gambia leads Africa in remittance-GDP ratio, with remittance accounting for 21.1% of its GDP in 2024.
  • Lesotho (20.9%) and Comoros (18.3%) closely follow as highly remittance-dependent economies.
  • Somalia (17.5%) and Liberia (14.3%) also rely heavily on diaspora inflows to support their economies.
  • Nigeria (11.3%) remains a major player, highlighting its strong global diaspora network.
  • Cabo Verde (12.1%) and Senegal (11.6%) demonstrate that remittances are key drivers of income in smaller economies.
  • In larger economies like Egypt (7.6%) and Morocco (8.1%), remittances also make up a significant share of GDP.

Remittances play a vital role in supporting African economies, serving as a critical financial lifeline for millions of households.

In 2024, The Gambia led the continent in remittance contributions, accounting for 21.1% of its GDP, followed closely by Lesotho (20.9%) and the Comoros (18.3%).

These figures underscore the significant dependence of some African nations on remittances from citizens working abroad, which often surpass other major sources of foreign income, such as exports or aid.

Source:

World Bank

Period:

2024
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