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.

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 outflows.

Note: All numbers are in current (nominal) US Dollars.

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.

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.

Remittances Paid and Received by Countries (1970-2020) This dataset contains remittance data for countries around the world, covering a span of 50 years (1970-2020). The data is structured in a long format, making it suitable for analysis and visualization.

Key Features: - Comprehensive time series data: Tracks remittance trends over five decades. - Global coverage: Includes remittance data for numerous countries. - Long format: Facilitates analysis and visualization of remittance trends.

Potential Use Cases: - Economic research: Analyze remittance trends and their impact on national economies. - Development studies: Examine the role of remittances in poverty reduction and economic development. - Policy analysis: Inform policy decisions related to remittances and international migration.

Remittances sent to Europe went largely towards France and Germany 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 foreign country. Nevertheless, Asia Pacific - not Europe - is often referred to as the main receiver of remittances.

Mexico MX: Average Transaction Cost of Sending Remittances to a Specific Country data was reported at 4.469 % in 2017. This records a decrease from the previous number of 6.354 % for 2016. Mexico MX: Average Transaction Cost of Sending Remittances to a Specific Country data is updated yearly, averaging 5.560 % from Dec 2011 (Median) to 2017, with 7 observations. The data reached an all-time high of 6.354 % in 2016 and a record low of 4.410 % in 2013. Mexico MX: Average Transaction Cost of Sending Remittances to a Specific Country data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Mexico – Table MX.World Bank.WDI: Payment System. Average transaction cost of sending remittance to a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database to a specific country.; ; World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org; Unweighted average;

This is the dataset accompanying the paper entitled "External financial flows and institutional building: the impact of remittances on civil liberties in aid dependent countries"

Dataset with data to study the interaction of emigration and immigration with foreign direct investment, exports and imports, and international remittances. The sample comprises 112 countries with which Spain has closely interconnected migratory, commercial and investment exchanges, and they focus both on the period prior to the great recession, 1998–2007, and on the subsequent period, 2008–2016. We combined several sources: data on emigration and immigration from the Spanish National Statistics Institute, INE, ("Residential Variations Statistics"); data on Spanish FDI abroad, sourced from the Spanish Ministry of Economy and Finance, Datainvex (2018); and data on international trade (exports and imports) from the World Bank and covering the period from 1998 to 2016. Also we use the data on international remittances sent and received from and to Spain in relation with these countries for the period 2010 to 2015, obtained from the World Bank.

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...

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.

About this Dataset

This dataset contains 25 columns which are: 1. Country: Corresponding country. 2. Poverty headcount ratio at $2.15 a day (2017 PPP) (% of population): Poverty in country. 3. Life expectancy at birth, total (years): Expected life from birth. 4. Population, total: Population of Country. 5. Population growth (annual %): Population growth each year. 6. Net migration: is the difference between the number of immigrants and the number of emigrants divided by the population. 7. Human Capital Index (HCI) (scale 0-1): is an annual measurement prepared by the World Bank. HCI measures which countries are best in mobilizing their human capital, the economic and professional potential of their citizens. The index measures how much capital each country loses through lack of education and health. 8. GDP (current US$)current US$constant US$current LCUconstant LCU: Gross domestic product is a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries. 9. GDP per capita (current US$)current US$constant US$current LCUconstant LCU: the sum of gross value added by all resident producers in the economy plus any product taxes (less subsidies) not included in the valuation of output, divided by mid-year population. 10. GDP growth (annual %): The annual average rate of change of the gross domestic product (GDP) at market prices based on constant local currency, for a given national economy, during a specified period of time. 11. Unemployment, total (% of total labor force) (modeled ILO estimate) 12. Inflation, consumer prices (annual %) 13. Personal remittances, received (% of GDP) 14. CO2 emissions (metric tons per capita) 15. Forest area (% of land area) 16. Access to electricity (% of population) 17. Annual freshwater withdrawals, total (% of internal resources) 18. Electricity production from renewable sources, excluding hydroelectric (% of total) 19. People using safely managed sanitation services (% of population) 20. Intentional homicides (per 100,000 people) 21. Central government debt, total (% of GDP) 22. Statistical performance indicators (SPI): Overall score (scale 0-100) 23. Individuals using the Internet (% of population) 24. Proportion of seats held by women in national parliaments (%) 25. Foreign direct investment, net inflows (% of GDP): is when an investor becomes a significant or lasting investor in a business or corporation in a foreign country, which can be a boost to the global economy.

Category

Economic

Keywords

Row Count

217

Price

$5.50

Japan JP: (DC)Average Transaction Cost of Sending Remittances from a Specific Country data was reported at 10.851 % in 2017. This records a decrease from the previous number of 11.299 % for 2016. Japan JP: (DC)Average Transaction Cost of Sending Remittances from a Specific Country data is updated yearly, averaging 13.743 % from Dec 2011 (Median) to 2017, with 7 observations. The data reached an all-time high of 16.842 % in 2011 and a record low of 10.851 % in 2017. Japan JP: (DC)Average Transaction Cost of Sending Remittances from a Specific Country data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Japan – Table JP.World Bank.WDI: Payment System. Average transaction cost of sending remittance from a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database from a specific country.; ; World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org; Unweighted average;

The dataset contains year and country wise share in India's inward remittances Note: For 2023-24, shares are derived based on two major components of inward remittances – (a) transfers for family maintenance and savings; (b) local withdrawals from non-resident deposit accounts.

This data consists of remittance, FDI, economic globalization, and financial development dynamics between two region groups, namely: a high remittance and FDI receiving region (European and Central Asian region) and low remittance and FDI receiving region (Sub-Saharan African region) for the period of 1984-2016. These two regions include 44 countries, where 15 highly remittances and FDI receiving developing countries, and 29 less globalized developing countries.

This study requires data on economic globalization and institutions. We have taken data from Gygli, et al. (2019), which is a newly, published KOF economic globalization index dataset in the International monetary fund. This index includes Trade Globalization and Financial Globalization. Trade-in goods, trade regulations, and trade in services, trade taxes, trade partner diversity, tariffs, and trade agreements are included under Trade Globalization. On the other hand, financial globalization is a combination of investment restrictions, portfolio investment, capital account openness, international debt, international Investment Agreements, international reserves, and international income payments. Institutional quality index datasets provided by the International Country Risk Guide (ICRG), which allowed us to test the hypothesis. A total of three control variables that are added to the main model have been proposed in this study, they are as follows, Real GDP per capita, Consumer price index (Inflation), and Gross fixed capital formation. All data are collected from the World Development Indicators and the International Monetary Fund.

Variables Definition Units Source

FD Financial development index Index value International monetary fund

FI Financial institution index Index value International monetary fund

FM Financial market index Index value International monetary fund

REM Personal remittances received (% of GDP) Percentage of GDP World Development Indicators

FDI Foreign direct investment, net inflows (% of GDP) Percentage of GDP World Development Indicators

EGLOB KOF Economic Globalization index Index value International monetary fund (Gygli, Savina, Florian Haelg, Niklas Potrafke and Jan-Egbert Sturm, 2019)

INSQ An institutional quality index(combining all Index value International Country Risk Guide

the variables like Government Stability,

Socioeconomic Conditions, Investment Profile,

Internal Conflict, External Conflict, Corruption,

Military in Politics, Religious Tensions, Law and Order,

Ethnic Tensions, Democratic Accountability,

Bureaucracy Quality and make one index

term by PCA)

GDP GDP per capita Per capita as per constant 2010 US$ World Development Indicators

INF Inflation(GDP deflator) Annual percentage World Development Indicators

GFCF Gross fixed capital formation Percentage of GDP International monetary fund

The Remittance Prices Worldwide data is divided into two groups – Remittance Cost at the Sending Countries and Remittance Cost at the Receiving Countries. For each group there are two dependent variables. FTRI data is available for 147 countries over a 14-year period. Remittance Paid and Received is available for 200 countries spanning 63 years. AML data is available for a minimum of 110 countries in certain years, up to 162 countries, and for a maximum period of 11 years. Names of the countries in different databases or within a database over different years may be captured differently due to geo-political reasons. Clean-up of such names is done to identify the observation uniquely. For example, Republic of Korea is treated as South Korea, Russian Federation or Soviet Union is treated as Russia, Ivory Coast is treated as Côte d'Ivoire, Czcheia is treated as Zchec Republic, Siam is treated as Thailand, the United States of America is treated as the United States and Türkiye is treated as Turkey. Remittance prices data is treated as the base. The data file is split into two datasets by using the ‘Sending Country’ and ‘Receiving Country’ columns along with their respective remittance cost percentage value columns. For each data file, the observations where the “Transparent" value is 'No” are omitted. The data is organized in panel format in ascending years and sorted alphabetically by country as a second-level sorting. The observations are numbered, and a unique key is created by concatenating the year and the serial number. A secondary key is created by concatenating “Year” and “_Country Name”. In the Remittance Paid, Remittance Received, FTRI and AML Index data files, a key same as ‘Secondary key’ is created by concatenating “Year” and “_Country Name”. Using the common key, the data is joined in each ‘Sending Country’ and ‘Receiving Country’ data files. The combined data available for the study is from 2011 to 2023. Missing values are not imputed in the panel data.

Jordan JO: Average Transaction Cost of Sending Remittances from a Specific Country data was reported at 4.571 % in 2017. This records an increase from the previous number of 3.827 % for 2016. Jordan JO: Average Transaction Cost of Sending Remittances from a Specific Country data is updated yearly, averaging 4.199 % from Dec 2016 (Median) to 2017, with 2 observations. The data reached an all-time high of 4.571 % in 2017 and a record low of 3.827 % in 2016. Jordan JO: Average Transaction Cost of Sending Remittances from a Specific Country data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Jordan – Table JO.World Bank.WDI: Payment System. Average transaction cost of sending remittance from a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database from a specific country.; ; World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org; Unweighted average;

Turkey TR: Average Transaction Cost of Sending Remittances from a Specific Country data was reported at 10.409 % in 2017. This records an increase from the previous number of 10.379 % for 2016. Turkey TR: Average Transaction Cost of Sending Remittances from a Specific Country data is updated yearly, averaging 10.394 % from Dec 2016 (Median) to 2017, with 2 observations. The data reached an all-time high of 10.409 % in 2017 and a record low of 10.379 % in 2016. Turkey TR: Average Transaction Cost of Sending Remittances from a Specific Country data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Turkey – Table TR.World Bank.WDI: Payment System. Average transaction cost of sending remittance from a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database from a specific country.; ; World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org; Unweighted average;

This study investigates the well-being effect of international migration and remittance on human and gender development in selected South Asian countries. The study has adopted panel regression analysis using secondary data from the World Development Indicators and United Nations Development Programme. This database contains information on seven South Asian countries from 1995 to 2020. The study simultaneously applied the Levin-Lin-Chu, Breitung and IM-Pesaran unit root tests to check the stationarity of data. After satisfying the condition, econometric models such as Fixed and Random Effects were executed. Pesaran’s test of cross-sectional independence, the Westerlund test for cointegration and VIF tests were performed in order to check the robustness of the results. As a post-diagnostic tool, the Hausman test suggests that the Fixed Effect models are appropriate for each estimation. The results demonstrate that personal remittance positively and significantly affects human and gender development. Similarly, international migration significantly influences human development while negatively affecting gender development. The study suggests that these countries should prioritize attaining higher remittances by sending more international migrants. Similarly, the provision of cheaper formal channels for remitting money and giving incentives can be effective for higher remittance inflow. Moreover, negotiation at the government-to-government level can effectively expand the international labour market of the selected countries.

Jamaica JM: (DC)Average Transaction Cost of Sending Remittances to a Specific Country data was reported at 8.888 % in 2017. This records an increase from the previous number of 8.356 % for 2016. Jamaica JM: (DC)Average Transaction Cost of Sending Remittances to a Specific Country data is updated yearly, averaging 8.888 % from Dec 2011 (Median) to 2017, with 7 observations. The data reached an all-time high of 9.590 % in 2013 and a record low of 8.108 % in 2012. Jamaica JM: (DC)Average Transaction Cost of Sending Remittances to a Specific Country data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Jamaica – Table JM.World Bank.WDI: Payment System. Average transaction cost of sending remittance to a specific country is the average of the total transaction cost in percentage of the amount sent for sending USD 200 charged by each single remittance service provider (RSP) included in the Remittance Prices Worldwide (RPW) database to a specific country.; ; World Bank, Remittance Prices Worldwide, available at http://remittanceprices.worldbank.org; Unweighted average;