Tanzania’s remittance inflows fell to $1.1bn in 2024.

Higher is better. More remittances mean more income reaching families and more foreign currency entering the economy, which is why a higher figure is better. The latest figure, for 2024, is $1.1bn, down from $1.2bn a year earlier. That is a fall of 9.3%, or $0.11bn. Since 2015 the series has ranged from a low of $0.33bn in 2020 to a high of $1.2bn in 2023. The 2024 figure sits just below the top of that range and well above the 2020 low.

Why it matters. For households that receive transfers, a smaller inflow means less money for food, school fees and housing costs. For the state and for firms that import goods, remittances are a source of dollars, so a $0.11bn drop trims the foreign currency flowing in. The next annual reading will show whether inflows return towards the $1.2bn reached in 2023.