Remittance are forecast to grow in the years following 2023, and are expected to pick again after a growth decline. In 2023, the value of remittances worldwide amounted to an estimated *** billion U.S. dollars. This is expected to reach *** billion U.S. dollars by 2025. Remittances grew especially during the coronavirus pandemic, when the year-on-year percentage change went up by more than ** percent between 2020 and 2021. Historical data on the global remittance market size, however, reveals this was not the largest increase.

Remittances in Egypt increased to 9373.50 USD Million in the first quarter of 2025 from 8743.50 USD Million in the fourth quarter of 2024. This dataset provides - Egypt Remittances - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Sending remittances to Indonesia and the Philippines was 1.41 times cheaper than to Cambodia, as of the second quarter of 2024. This is according to an average taken from different situation in which consumers send money worth 200 U.S. dollars from one country to the next - including cash, MTOs (money transfer organizations) or cards.

Remittances in Thailand increased to 21641 THB Billion in December from 18891 THB Billion in November of 2024. This dataset provides - Thailand Remittances- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Remittances in Indonesia increased to 4248.27 USD Million in the second quarter of 2025 from 4163.91 USD Million in the first quarter of 2025. This dataset provides the latest reported value for - Indonesia Remittances - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Sending remittances to countries like Jordan or Yemen was cheaper than sending money to Syria or Lebanon, as of the first quarter of 2024. This is according to an average taken from different situation in which consumers send money worth 200 U.S. dollars from one country to the next - including cash, MTOs (money transfer organizations) or cards.

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

Graph and download economic data for Remittance Inflows to GDP for India (DDOI11INA156NWDB) from 1975 to 2020 about remittances, India, and GDP.

Graph and download economic data for Remittance Inflows to GDP for Tonga (DDOI11TOA156NWDB) from 1975 to 2020 about Tonga, remittances, and GDP.

Graph and download economic data for Remittance Inflows to GDP for Ethiopia (DDOI11ETA156NWDB) from 1981 to 2020 about remittances, Ethiopia, and GDP.

Graph and download economic data for Remittance Inflows to GDP for Nigeria (DDOI11NGA156NWDB) from 1977 to 2020 about remittances, Nigeria, and GDP.

Sending remittances from South Korea to other parts of the world was cheaper than from Australia or India, as of the first quarter of 2024. This is according to an average taken from different situation in which consumers send money worth 200 U.S. dollars from one country to the next - including cash, MTOs (money transfer organizations) or cards.

Remittances in Georgia decreased to 786585.10 USD Thousands in the first quarter of 2025 from 833150.90 USD Thousands in the fourth quarter of 2024. This dataset provides - Georgia Remittances- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The most expensive countries in the world to send remittances to largely consisted of countries in Sub-Saharan Africa as of the third quarter of 2023. This is according to an average taken from different situation in which consumers send money worth 200 U.S. dollars from one country to the next - including cash, MTOs (money transfer organizations) or cards. The source adds that incoming remittances were estimated at 6.39 percent on average for the G20 countries during this timeframe.

Total revenue from the global digital remittance market is forecasted at US$ 23.4 billion for 2024. The market has been projected to rise swiftly at a CAGR of 13.5% and reach a value of US$ 83.2 billion by the end of 2034.

Report Attribute	Detail
Digital Remittance Market Size (2024E)	US$ 23.4 Billion
Forecasted Market Value (2034F)	US$ 83.2 Billion
Global Market Growth Rate (2024 to 2034)	13.5% CAGR
South Korea Market Value (2034F)	US$ 5 Billion
Inward Digital Remittance Demand Growth (2024 to 2034)	14.2% CAGR
Key Companies Profiled	Azimo Limited; WorldRemit Ltd.; Remitly; InstaReM Pvt. Ltd.; MoneyGram; Paytm; OFX; Digital Wallet Corporation; PayPal Holdings, Inc.; Ria Financial Services Ltd.; Pangea Money Transfer; OrbitRemit; TransferGo Ltd.; Western Union Holdings Inc.; CurrencyFair; Remitbee; Transfast.

Country-wise Analysis

Attribute	United States
Market Value (2024E)	US$ 2.6 Billion
Growth Rate (2024 to 2034)	13.3% CAGR
Projected Value (2034F)	US$ 9.1 Billion

Attribute	South Korea
Market Value (2024E)	US$ 1.2 Billion
Growth Rate (2024 to 2034)	15.4 % CAGR
Projected Value (2034F)	US$ 5 Billion

Category-wise Analysis

Attribute	Personal
Segment Value (2024E)	US$ 9.8 Billion
Growth Rate (2024 to 2034)	12.4% CAGR
Projected Value (2034F)	US$ 31.6 Billion

Attribute	Outward Digital Remittance Services
Segment Value (2024E)	US$ 12.9 Billion
Growth Rate (2024 to 2034)	12.9% CAGR
Projected Value (2034F)	US$ 43.3 Billion

The Department of Public Services and Procurement Canada, in its role as Receiver General for Canada, is responsible for the management and safeguarding of all federal government money. The Receiver General uses a centralized banking system (Government Banking System or GBS) to record the inflow of funds. Data is stored in the GBS detailing the dates and amounts for deposits received at financial institutions. This dataset, entitled “Summary of remittance deposits collected on behalf of participating federal departments”, provides details extracted from the Government Banking System of statistical information related to payments made by the public at their financial institution to the credit of the Receiver General. The incoming payments detailed within this dataset are initiated through one of two manners: (1) Paper-based bill payments where the client goes to their financial institution and makes a payment to the credit of the Receiver General using a physical payment remittance stub; and (2) electronic bill payments wherein the client makes a payment through their online/telephone banking portal, or through other electronic means offered by their financial institution – these types of payments are termed as Electronic Data Interchange (EDI) remittances. The dataset is composed of four unique datafiles: (1) Electronic Data Interchange Batch Statistics, (2) Electronic Data Interchange Detail Statistics, (3) Paper-Based Remittance Deposit Statistics, and (4) Paper-Based Remittance Batch Statistics. All transactions have been either aggregated or anonymized. Updates will be posted quarterly.

Graph and download economic data for Remittance Inflows to GDP for Zimbabwe (DDOI11ZWA156NWDB) from 1977 to 2020 about Zimbabwe, remittances, and GDP.

Graph and download economic data for Remittance Inflows to GDP for Bangladesh (DDOI11BDA156NWDB) from 1976 to 2020 about remittances, Bangladesh, and GDP.

Graph and download economic data for Remittance Inflows to GDP for Turkey (DDOI11TRA156NWDB) from 1974 to 2020 about remittances, Turkey, and GDP.

Monthly data on remittance inflow to South Asian countries (Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka) from their partner countries is collected from January 2018 to December 2022 from the Central Bank database. As an alternative to monthly GDP data, monthly Industrial Production Index (IPI) data is used instead as a proxy for GDP. This is because monthly GDP data is not available. Monthly IPI data was collected from International Financial Statistics by the International Monetary Fund (IMF) for South Asian countries and partner countries (Singapore, Malaysia, Japan, Italy, and the UK). Libya and Middle Eastern nations, however, don't have monthly IPI statistics. Since the economies of those countries are heavily dependent on oil production, we created the Oil Production Index as a proxy for GDP. World Bank and EIA monthly crude oil price and production data are used to calculate Oil Production Index. Distance and standard gravity control variables like population, contiguity, and common language are taken from the Dynamic Gravity datasets constructed by the United States International Trade Commission. Migration stock data is collected from the Bureau of Manpower Employment and Training (BMET) and the International Organisation of Migration (IOM). We collect exchange rate data from the Central Bank dataset. To tackle the issue of different currency units, a Bilateral Exchange Rate Index (BERI) is constructed, where the exchange rate of each month for each country is divided by the exchange rate of the base year of that particular country. Furthermore, COVID cases, COVID mortality, and COVID vaccination data are collected from the Our World in Data website.