Diaspora Remittances Hit US$1 Billion in First Hal...

Diaspora Remittances Hit US$1 Billion in First Half of 2025

Oscar J Jeke

Zim Now Reporter

Zimbabwe received over US$1 billion in diaspora remittances during the first half of 2025, as foreign currency inflows surged to a total of US$7.25 billion, latest data from the Reserve Bank of Zimbabwe has shown.

According to the central bank’s table on foreign currency receipts, diaspora remittances reached US$1.09 billion between January and June 2025, up 8.4% from the US$1.01 billion recorded during the same period in 2024. The inflows accounted for 15.1% of total foreign currency receipts.

The rise in diaspora remittances comes amid growing economic support from Zimbabweans living abroad, who continue to cushion families back home against inflation and economic pressures.

Overall, foreign currency receipts rose by 23.1% in the first half of 2025 — from US$5.89 billion in the same period last year to US$7.25 billion driven largely by higher export proceeds and private sector loan inflows.

Export earnings remained the top contributor, bringing in US$3.95 billion, up from US$3.14 billion in 2024 a 25.7% increase. Private loan inflows also surged by 73.4%, from US$849.2 million to US$1.47 billion.

The mining sector was the backbone of the export gains, contributing US$2.8 billion to total exports a 38.6% increase from the previous year. Gold earnings alone amounted to US$1.38 billion, up 57.6%, while diamond exports rocketed by 212.7% to US$134.86 million.

A Reserve Bank table noted: “Diamond exports increased from US$43.13 million in 2024 to US$134.86 million in 2025, a 212.70% surge.”

However, the data also revealed declines in manufacturing and agriculture exports, which dropped by 24.4% and 35.5% respectively. Foreign direct investment also fell sharply by 55.7%, from US$268.8 million to US$119 million.

NGO inflows were slightly down by 1.1% to US$550.1 million, compared to US$556.4 million during the same period last year.