Remittances from abroad are major economic assets for some developing countries
For five countries – Nepal, Kyrgyzstan, Haiti, Tajikistan and Liberia – remittances from citizens abroad are equivalent to at least a quarter of GDP.
Remittance Flows Worldwide in 2016
Worldwide, an estimated $574 billion (USD) was sent by migrants to relatives in their home countries in 2016, a 1% decline from 2015, when the amount was $581 billion, according to economists at the World Bank.
Migrants from Latin America and the Caribbean sent a record amount of money to their home countries in 2016
Remittance flows decreased worldwide for a second consecutive year in 2016, the first back-to-back decline in over three decades. Remittances to Latin America and the Caribbean, however, rose to a record high.
Migrant remittances worldwide drop in 2015 for first time since Great Recession
Worldwide, an estimated $582 billion was sent by migrants to relatives in their home countries in 2015, a 2% decline from 2014.
Remittance Flows Worldwide in 2012
Track the flow of remittances—the money that many migrants send back to families in their countries of origin—related to patterns of global migration with this interactive map.
Changing Global Migration Patterns
More international migrants now live in high-income countries such as the U.S. and Germany, while more were born in middle-income nations such as India and Mexico. Migrants’ annual remittances have nearly tripled since 2000 to more than $500 billion.
Remittances to Latin America Recover—but Not to Mexico
Migrants’ remittances to Mexico, an estimated $22 billion in 2013, are below their 2006 peak. For all other Spanish-speaking Latin American nations, the 2013 estimate of $31.8 billion slightly surpasses the 2008 peak.
Hispanics and the Economic Downturn: Housing Woes and Remittance Cuts
Latinos, especially the foreign-born, are feeling the sting of the economic downturn and, in some respects, even more so than the general population.
Between Here and There: How Attached Do Latino Immigrants Remain to Their Native Country?
Most maintain some kind of connection to their native country, but only one-in-ten can be considered to be highly attached.
A Slower Flow from Mexico?
While short-term changes in immigration flows are difficult to measure, several indicators suggest a possible slackening in migration across the U.S. border since mid-2006.