In 2022, Nigeria was the West African country with the largest remittance inflow. Nigeria received remittances valued at an estimated **** billion U.S. dollars in 2022. Senegal followed, with total remittances of *** billion U.S. dollars.

Remittances towards Sub-Saharan Africa are forecast to slow down in growth in 2023 compared to previous years. In 2022, Sub-Saharan countries received remittances valued at an estimated ** billion U.S. dollars. By 2023, this value is predicted to increase to ** billion U.S. dollars. The region saw the largest increase in 2021, after the coronavirus pandemic led to a significant decline in 2020.

In 2022, the value of migrant remittances transferred to India amounted to 111 billion U.S. dollars. This was the leading country worldwide, ranked by value of migrant remittance inflows in that year. Mexico and China followed behind.

Remittances sent to Africa went largely towards Egypt, Nigeria, and Morocco in 2021, with each country receiving at least ** billion billions worth of dollars. This is according to a database that tries to model money sent internationally from one party to another. Remittances typically refer to money sent from migrant workers back home to family and friends, although there are other forms of this. Remittances can, for example, include pensioners who have a second home in a foreign country. Nevertheless, Asia Pacific - not Africa - is often referred to as the main receiver of remittances.

The personal remittances received in Liberia increased by ***** million U.S. dollars (+16 percent) in 2023. While the growth is slowing down, with *** million U.S. dollars, the personal remittances received are at their peak in the observed period. Remittances are flows of money between immigrants and their relatives. They refer to personal transfers between resident and nonresident individuals, and the compensation of employees who are employed in an economy where they are not resident, and of residents employed by nonresident entities.Find more key insights for the personal remittances received in countries like Togo and Niger.