India tops remittances recipient list, despite drop
The Dollar Business Bureau India, the largest economy in South Asia, despite facing a drop of $1 billion (Rs.6,6523 crore) in 2014, received highest remittances from overseas in 2015, revealed a report by World Bank on Thursday. By attracting remittances worth $69 billion in 2015, down from $70 billion in 2014, India continued to be the top recipient of remittances in 2015, claimed the annual report 'Migration and Development Brief' of the World Bank. Besides India, China received huge remittances valued at $64 billion. Philippines, Mexico and Nigeria received $28 billion, $25 billion and $21 billion, respectively. Remittances to India declined by 2.1 per cent in 2015 marking the first drop since 2009, revealed the report. The World Bank data shows that remittances to developing ...
Migrants are major players in global market: World Bank Chief Economist
The Dollar Business Bureau India tops the list of remittance recipient countries in terms of value of remittances drawn from global migrant work force in 2014, says the World Bank’s Migration and Development Brief report, released on Tuesday. Out of US$ 583 billion- total remittance value received in 2014, India received US$ 70 billion followed by China (US$ 64 bn), Philippines (US$ 28 bn), among others, added the report. The top five migrant destination countries continue to be the United States, Germany, Saudi Arabia, Russia and the United Arab Emirates (UAE). According to the report, the officially recorded remittance flows to developing countries were estimated to have reached US$ 436 billion in 2014, accounting to 4.4% year-on-year rise and ...
