Tag Archives: remittances

Worldwide Remittance Flows

world remittance flows 2012Remittances, or money sent by migrant workers to their home countries, have increased since the year 2000. Although, they temporarily decreased after the economic crisis back in 2008, they recovered in 2010 and continued to rise. Remittances increased from $204 billion back in 2000 to $540 billion in 2012.

Countries with the highest remittance inflows include India ($71 billion), China ($62 billion), Mexico, the Philippines, Nigeria, Egypt, and France. Only nine countries saw a reduction in remittance inflows, among them Greece and Turkey which experienced the steepest decline.

For the interactive map, please visit: Tages Woche: The incredible rise of migrants’ remittances

 

Migrant Remittances Continue to Rise

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Migrant remittances to developing countries are expected to reach $406 billion in 2012, a 6.5 percent increase over the previous year, and $534 billion in 2015. These officially recorded remittances have kept increasing despite high remittance costs and the financial crisis. This source of income for developing economies constitutes more than three times the size of Official Development Assistance (ODA).

The highest recipients of migrant remittances among developing economies for 2012 are India, China, the Philippines and Mexico. As a percentage of GDP, the highest recipients in 2011 were Tajikistan, Liberia, the Kyrgyz Republic and Lesotho.

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