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Monday, February 24, 2014

Remittance Flows Worldwide in 2012 U.S. top sending country; India top receiving country


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Patterns of global migration have shifted in recent decades and those changes, along with the ups-and-downs of the economy, have also resulted in changes in the flow of remittances —the money that many migrants send back to families in their countries of origin.
International migrants sent $529 billion in remittances back to their home countries in 2012, according to the World Bank. The United States is the number one sender of international remittances, accounting for nearly a quarter of them (23.3%). India ranks at the top of all countries that receive remittances, with $69 billion in 2012.
Tracking remittances worldwide is difficult because many countries do not track funds that are sent or received. Based on data it is able to collect, the World Bank has used a statistical model to estimate the amount of money coming from each sending country to each receiving country. Because these numbers are estimates, there is some room for error.

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