Diaspora Remittances to Kenya in February 2022 totaled US$ 321.5 Million compared to US$ 260.3 million in February 2021, a 23.5 per cent increase.
According to the latest CBK Weekly Bulletin, the inflows were, however, lower by 5.1 per cent compared to the US$ 338.7 Million in January 2022, in line with seasonal factors.
The total inflows for the 12 months to February 2022 totaled US$ 3,840 Million compared to US$ 3,155 Million in the same period in 2021, a 21.7 per cent increase.
The USA remains the largest source of remittances into Kenya, accounting for 58 per cent in February 2022.
Figures from the CBK shows the USA contributed US$ 113.7 Million in March 2019 compared to US$ 118.3 Million in March 2020 and $ 162.6 Million in March 2021.
Data from CBK indicate that the USA contributed $ 186.5 Million in February 2022 compared to $ 209.1 Million in January 2022.
The largest source of diaspora remittances to Kenya in Africa was Tanzania, with $ 3.9 Million. It is followed by Uganda, which contributed $ 2.6 Million in February 2022, South Africa$ 2.4 Million, Malawi $ 527,000, Nigeria$ 508,000, Zambia $ 297,000, Ivory Coast $ 291,000, Egypt$ 221,000 and South Sudan $ 177,000.
In total, remittances from Africa totaled $ 20.1 Million in February 2022 compared to $ 15.5 Million in January 2021.
Remittances from Europe totaled US$ 55.8 Million in February 2022, with the most significant contribution coming in from the United Kingdom(US$ 25.9 Million), followed by Germany( US$ 9.1 Million); Switzerland(US$ 4.3 Million); Italy(US$ 2 Million); Netherlands(US$ 1.9 Million); Sweden(US$ 1.9 Million); Norway( US$ 1.7 Million); France( US$ 1.6 Million); Belgium( US$ 1.3 Million); Austria( US$ 904,000)and Others( US$ 4.9 Million).
Remittances from Asia amounted to US$ 42.5 Million with Saudi Arabia being the largest source at $ 19.2 Million followed by Qatar($ 7.1 Million), United Arab Emirates( $ 4.6 Million), India( US$ 3.6 Million), Bahrain( US$832,000), Iraq( US$ 457,000), Japan($ 448,000), Oman( $ 391,000), China( US$ 79,000) and Others( US$ 5.8 Million).