El Salvador experienced a 40% drop in remittances in April 2020 compared with April 2019, the largest decline among the six nations analyzed.
Remittances – money sent by migrants to their home countries – are projected to fall by a record 20% this year.
Money sent by immigrants to their home countries in sub-Saharan Africa reached a record $41 billion in 2017.
Worldwide, an estimated $625 billion (USD) was sent by migrants to individuals in their home countries in 2017, a 7% increase from 2016, when the amount was $586 billion, according to economists at the World Bank. This increase follows two consecutive years of decline.
For five countries – Nepal, Kyrgyzstan, Haiti, Tajikistan and Liberia – remittances from citizens abroad are equivalent to at least a quarter of GDP.
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.
Worldwide, an estimated $582 billion was sent by migrants to relatives in their home countries in 2015, a 2% decline from 2014.
Track the flows of remittances worldwide in the year 2012 with this interactive.
Patterns of global migration and remittances have shifted in recent decades, even as both the number of immigrants and the amount of money they send home have grown, according to a new Pew Research Center analysis of data from the United Nations and the World Bank.
1. Overview Remittances to Spanish-speaking Latin American countries overall have recovered from a decline during the recent recession, with the notable exception of Mexico, according to World Bank data analyzed by the Pew Research Center. Migrants’ remittances to Mexico, an estimated $22 billion in 2013, are 29% below their 2006 peak. For all other Spanish-speaking […]