The biggest receivers of remittances in the world included India, Mexico, and China in 2023, with each country receiving several 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 is often referred to as the main receiver of remittances.

The value of remittances to India outweighed the value sent to other countries about 10 times in 2021, according to a ranking that maps the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For India, the top five recipient countries for remittances in 2021 included Bangladesh, Nepal, China, Sri Lanka, and the United States. India's main sources for remittances were the United Arab Emirates, the United States, Saudi Arabia, Oman, and Kuwait.

In 2023, Mexico received nearly 66.2 billion U.S. dollars worth of remittances, making it the Latin American country with the highest value of international deposits received that year. Guatemala ranked second, with remittances amounting to nearly 20 billion dollars. In total, the value of remittances in Latin America and the Caribbean exceeded 152 billion U.S. dollars in 2023.

This dashboard is part of SDGs Today. Please see sdgstoday.orgInternational migration has significant implications for countries’ economic growth, and remittances are an important factor on the economy. Typically sent by migrant workers to family and friends in their home countries, remittances are transfers of money that are often a large source of income for recipients. Remittances are comparable to international aid and represent one of the largest financial flows to developing countries, impacting both economic development and poverty alleviation. Compiled by the World Bank, this dataset measures officially-recorded remittance inflows (remittances received) per country in 2020. In 2020, the global remittance inflow was $666,223,000,000. Data is based off of the International Monetary Fund’s (IMF) Balance of Payment Statistics, which are updated annually. Remittance amounts are calculated as the sum of personal transfers, compensation of employees, and migrants’ transfers from IMF data. For some countries, remittance figures may come from central banks or other official sources.

Low-and middle-income (LMI) countries in South Asia received more remittances than any other LMI region in the world, such as Latin America. The latter region received approximately 145 billion U.S. dollars from other countries, most of which likely comes from the U.S. to Mexico - the biggest remittance corridor in the world. Predictions are that global remittances will increase by 27 billion U.S. dollars between 2022 and 2024.

Dominican Republic DO: BOP: Current Account: Personal Remittances: Received: % of GDP data was reported at 8.136 % in 2017. This records an increase from the previous number of 7.614 % for 2016. Dominican Republic DO: BOP: Current Account: Personal Remittances: Received: % of GDP data is updated yearly, averaging 5.326 % from Dec 1970 (Median) to 2017, with 48 observations. The data reached an all-time high of 11.022 % in 2004 and a record low of 0.778 % in 1975. Dominican Republic DO: BOP: Current Account: Personal Remittances: Received: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Dominican Republic – Table DO.World Bank: Balance of Payments: Current Account. Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.; ; World Bank staff estimates based on IMF balance of payments data, and World Bank and OECD GDP estimates.; Weighted Average; Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

Remittances are transfers of money by a person working in a foreign location to a person or family back home as household income. As per IMF, Remittances are typically transfers from a well-meaning individual or family member to another individual or household. They are targeted to meet specific needs of the recipients, and this tends to reduce poverty. This dataset contains year and country-wise remittance inflows. It also has data related to Low and Middle income countries

Note: 1) All numbers are in current (nominal) US Dollars. 2) Venezuela has been unclassfied due to the unvailability data, thus it is not included in aggregate sum

France was one of the few European countries in 2021 that received more remittances compared to the value of remittances that left the country. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For France, the top five recipient countries for remittances in 2021 included Belgium, Morocco, Spain, Portugal, and Algeria. France's five main sources for remittances were Spain, Belgium, the United States, Switzerland, and the UK.

This dataset provides values for REMITTANCES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Abstract

The Future of African Remittances (FAR) team conducted research on remittance flows to measure and understand the remittance process in sub-Saharan Africa. This ambitious and important research is initially focused on three countries in East Africa – Ethiopia, Kenya and Uganda.

In order to glean insights into the remittance process in the three designated countries, the World Bank designed a two-phase survey process. Phase 1 involved conducting a national survey in each of the three countries. The purpose of the first phase of research was to collect a large representative sample of the adult population in each country. The national surveys provide important baseline data about international remittance flows including: an estimate of the percent of the total adult population that regularly receives remittances, the average amount of each remittance received, most common methods of receipt and top sending countries. Additionally, through the analysis of the national survey results, World Bank was able to identify areas of each country that have high concentrations of international remittance recipients. This important piece of information guided Phase 2 of the research – surveys of remittance receivers in each country. Whereas the national surveys aimed to collect general data about the remittance process, the surveys of remittance recipients allowed for the collection of more detailed data about the remittance process itself, how remittances are used, the relationship between sender and receiver, and interest in various financial products.

The results of this research will not only provide estimates of total annual amounts of remittances for each country, but also will tell us the percentage of the population in each country that is involved in the international remittance process. Furthermore, it will offer insights as to the degree to which Ethiopians, Kenyans and Ugandans depend on international remittances and how the money is used, saved and/or invested. Results will also measure interest in financial products that, if utilized, can significantly impact the financial well-being of the population and the overall economic stability of each country.

Geographic coverage

National Coverage

Analysis unit

Households Individuals

Universe

The Survey covered the adult population.

Kind of data

Sample survey data [ssd]

Sampling procedure

General:

The total samples were compiled utilizing multi-stage stratified random sampling through respondent selection. Multi-stage random sampling ensured that a random sample of adults was collected in each country. First, after stratifying the population of each country by region and population density, sampling points (SPs) were determined. SPs were then randomly selected within each stratum. At each SP, respondents were randomly selected to participate in the survey.

Phase 1:

The first phase consisted of national surveys of the adult population of each country. The three survey samples were designed to be representative of the adult populations of these three countries. World Bank coordinated and oversaw all aspects of the sampling and interviewing process. A team of local field experts was hired in each country to conduct the actual interviews. All interviewers were professionally trained and supervised by research personnel. In this phase of the research, a total of 2042 Ethiopian adults were interviewed.

Phase 2:

Once the national surveys were completed, the results were analyzed to determine the areas of concentration of the remittance recipient population, after which the second phase of the project was conducted. This phase of the project included a targeted survey of the remittance recipient population of each of the three East African countries. Sampling Points were established based on the analysis of the national survey data and the identification of areas within each country that showed the highest concentrations of remittances received from relatives abroad in proportion to the sample size of all areas surveyed. Once again, local field experts were hired in each country to conduct the interviews, training and supervision of field operations. Languages of interviews were the same as those employed in Phase 1 and, again, all interviews were conducted in person using the PAPI method. A total of 400 interviews with regular international remittance recipients were completed in each country during August and September of 2010. The margin of error for all three surveys is approximately ±5 percentage points and the 95 percent level of confidence.

Detail:

The total sample was compiled utilizing multi-stage stratified random sampling through respondent selection. This sampling method enabled B&A to ensure that a representative random sample of Ethiopian adults was collected. There are three stages to this type of sampling methodology. First, after stratifying the Ethiopian population by region and population density, sampling points (SPs) were determined. SPs were then randomly selected within each stratum. In the second stage, using the random route method, dwellings were selected within each SP. The random route method involves selecting an address in each SP at random as a starting point. Each interviewer was given instructions to identify additional dwellings by taking alternate left and right turns and stopping at every Nth dwelling. The third and final stage involved selecting actual participants - for each selected dwelling, individual respondents were chosen using a Kish grid. In a Kish grid, prior to beginning the interview, the interviewer first asks for the ages and genders of every household member (only persons aged 18 or older were eligible for selection). The individual to be interviewed was then chosen based on a random number in the grid.

Once the national survey was completed, B&A analyzed the results to determine the areas of concentration of the remittance recipient population, after which the second phase of the project was conducted. This phase included a targeted survey of the remittance recipient population in Ethiopia. Sampling Points were established based on B&A's analysis of the national survey data and the identification of areas of the country that showed concentrations of international remittance receivers in proportion to the sample size of all areas surveyed. Once again, local field experts were hired to conduct the interviews and B&A conducted all training and supervision of field operations. Interviews were conducted in Amharic and all interviews were conducted in person using the PAPI method. A total of 410 interviews with regular international remittance recipients were conducted in Ethiopia during August and September of 2010. The margin of error for the surveys is approximately ±5 percentage points and the 95 percent level of confidence.

Mode of data collection

Face-to-face [f2f]

Research instrument

Phase 1:

This survey consisted of 12 questions that were aimed at helping to identify some of the basic characteristics of the remittance recipient population in each country. Some of the variables included in this survey were – location, age, gender, amount of money received, method of receipt, origin of remittance, etc.

Phase 2:

The survey instrument for Phase 2 consisted of approximately 35 questions and included a number of variables aimed at obtaining greater detail about the remittance receiving process including costs, amounts received, information about the sender and the relationship between sender and receiver. Additionally, the survey measured interest in various financial products.

Response rate

Every effort was made to achieve the maximum possible coverage, taking cost, timing and other factors into account. A coverage rate of 97% was achieved in the national survey and the 3% of the country that was not covered consisted of areas that were either very remote (and difficult to travel to) or that had extremely small populations.

Sampling error estimates

The margin of error is approximately ±5 percentage points and the 95 percent level of confidence.

In 2022, the value of personal remittances received in Africa was highest in Egypt and Nigeria. For these countries, the amount reached 32.3 billion and 20.9 billion U.S. dollars, respectively. Morocco and Ghana followed with 11.4 billion and 4.7 billion U.S. dollars, respectively.

Venezuela VE: BOP: Current Account: Personal Remittances: Received data was reported at 293.279 USD mn in 2017. This records an increase from the previous number of 279.000 USD mn for 2016. Venezuela VE: BOP: Current Account: Personal Remittances: Received data is updated yearly, averaging 19.000 USD mn from Dec 1985 (Median) to 2017, with 33 observations. The data reached an all-time high of 293.279 USD mn in 2017 and a record low of 1.000 USD mn in 1990. Venezuela VE: BOP: Current Account: Personal Remittances: Received data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Venezuela – Table VE.World Bank.WDI: Balance of Payments: Current Account. Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.; ; World Bank staff estimates based on IMF balance of payments data.; Sum; Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

Poland PL: BOP: Current Account: Personal Remittances: Received data was reported at 6.867 USD bn in 2017. This records an increase from the previous number of 6.712 USD bn for 2016. Poland PL: BOP: Current Account: Personal Remittances: Received data is updated yearly, averaging 6.591 USD bn from Dec 1994 (Median) to 2017, with 24 observations. The data reached an all-time high of 10.475 USD bn in 2008 and a record low of 581.000 USD mn in 1994. Poland PL: BOP: Current Account: Personal Remittances: Received data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Poland – Table PL.World Bank: Balance of Payments: Current Account. Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.; ; World Bank staff estimates based on IMF balance of payments data.; Sum; Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

International Money Transfer: Avg Amount Received: from Non CIS: Austria data was reported at 12,793.000 USD in Dec 2018. This records an increase from the previous number of 3,550.000 USD for Sep 2018. International Money Transfer: Avg Amount Received: from Non CIS: Austria data is updated quarterly, averaging 8,695.000 USD from Jun 2006 (Median) to Dec 2018, with 51 observations. The data reached an all-time high of 16,427.000 USD in Jun 2007 and a record low of 3,550.000 USD in Sep 2018. International Money Transfer: Avg Amount Received: from Non CIS: Austria data remains active status in CEIC and is reported by The Central Bank of the Russian Federation. The data is categorized under Russia Premium Database’s Monetary and Banking Statistics – Table RU.KAH004: International Money Transfer: Received by Individuals: by Countries.

International Money Transfer: Avg Amount Received: by Non Residents: from Non CIS: Bulgaria data was reported at 3,591.341 USD in Sep 2016. This records a decrease from the previous number of 3,623.450 USD for Jun 2016. International Money Transfer: Avg Amount Received: by Non Residents: from Non CIS: Bulgaria data is updated quarterly, averaging 3,134.000 USD from Jun 2006 (Median) to Sep 2016, with 42 observations. The data reached an all-time high of 11,155.000 USD in Jun 2014 and a record low of 1,138.000 USD in Dec 2009. International Money Transfer: Avg Amount Received: by Non Residents: from Non CIS: Bulgaria data remains active status in CEIC and is reported by The Central Bank of the Russian Federation. The data is categorized under Russia Premium Database’s Monetary and Banking Statistics – Table RU.KAH008: International Money Transfer: Received by Non Resident Individuals: by Countries.

Russia International Money Transfer: Received: from CIS Countries data was reported at 1.031 USD bn in Dec 2018. This records an increase from the previous number of 883.000 USD mn for Sep 2018. Russia International Money Transfer: Received: from CIS Countries data is updated quarterly, averaging 677.000 USD mn from Mar 2005 (Median) to Dec 2018, with 56 observations. The data reached an all-time high of 1.313 USD bn in Dec 2014 and a record low of 206.000 USD mn in Mar 2006. Russia International Money Transfer: Received: from CIS Countries data remains active status in CEIC and is reported by The Central Bank of the Russian Federation. The data is categorized under Russia Premium Database’s Monetary and Banking Statistics – Table RU.KAH001: International Money Transfer: by Individuals.

This data includes remittance estimates of sending countries and receiving country Nepal (millions of US$) for 2012. Here, remittance is estimated by using migrant stocks, host country incomes, and origin country incomes. The data is extracted from http://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTDECPROSPECTS/0,,cont...

India, China, and Pakistan accounted for a combined 80 percent of the total inflow of remittance-receiving countries in Asia bar Southeast Asia in 2021. Remittances received by the eight 12 countries and territories in this region were worth roughly 157 billion U.S. dollars, with more than half of this money originating from the Middle East. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. Southeast Asia's outflow largely stayed within Asia, especially within both Southeast Asia itself and South Asia - which includes India.

Cambodia KH: BOP: Current Account: Personal Remittances: Received: % of GDP data was reported at 6.571 % in 2023. This records an increase from the previous number of 6.541 % for 2022. Cambodia KH: BOP: Current Account: Personal Remittances: Received: % of GDP data is updated yearly, averaging 2.727 % from Dec 1992 (Median) to 2023, with 32 observations. The data reached an all-time high of 7.432 % in 2020 and a record low of 0.331 % in 1996. Cambodia KH: BOP: Current Account: Personal Remittances: Received: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Cambodia – Table KH.World Bank.WDI: Balance of Payments: Current Account. Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.;World Bank staff estimates based on IMF balance of payments data, and World Bank and OECD GDP estimates.;Weighted average;Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

Russia International Money Transfer: Avg Amount Received: from CIS: Uzbekistan data was reported at 851.000 USD in Dec 2018. This records a decrease from the previous number of 1,042.000 USD for Sep 2018. Russia International Money Transfer: Avg Amount Received: from CIS: Uzbekistan data is updated quarterly, averaging 1,555.000 USD from Jun 2006 (Median) to Dec 2018, with 51 observations. The data reached an all-time high of 2,326.000 USD in Sep 2008 and a record low of 846.000 USD in Mar 2017. Russia International Money Transfer: Avg Amount Received: from CIS: Uzbekistan data remains active status in CEIC and is reported by The Central Bank of the Russian Federation. The data is categorized under Russia Premium Database’s Monetary and Banking Statistics – Table RU.KAH004: International Money Transfer: Received by Individuals: by Countries.