Remittances to developing countries are on rise: World Bank report 2011 says

Published Date:   Saturday, Aug 25, 2012

The World Bank Report mentioned that the remittance flows to developing countries are estimated to have reached $372 billion in 2011, an increase of 12.1 percent over 2010. The top remittance recipient developing countries in nominal terms and in relation to the GDP are listed in box 1. The report mentioned that the top recipients of remittances among developing countries in 2011 were India ($64 billion), followed by China ($62 billion), Mexico ($24 billion), and the Philip-pines ($23 billion). Other large recipients include Egypt, Pakistan, Bangladesh, Nigeria, Vietnam, and Lebanon (box figure 1). However, small and low-income countries such as Tajikistan, Lesotho, Nepal, Samoa and Tonga tend to receive more remittances as a share of their GDP (box figure 2).

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