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$14.9bn growth in global remittances

Washington: In 2013, Pakistan received a total of $14.9 billion from its nationals working abroad.

India was the top global recipient of remittances in the year ending this week, followed by China. They also were the top receiving nations among middle-income countries. In 2013, India received an estimated $71bn in remittances, and China $60bn. Among the other top middle-income receiving nations for remittances are the Philippines, $26bn, Mexico, $22bn, and Nigeria, $21bn.

Bangladesh topped the list of low-income countries with $15.2bn, followed by Nepal, $5.4bn.But given the size of their populations, all three smaller South Asian nations – Pakistan, Bangladesh and Nepal – received higher per capita remittance than their larger neighbour, India.

Among high-income nations, the top five remittance receivers were France, with an estimated $22bn, Germany, $15bn, Belgium, $11bn), Spain, $10bn and South Korea, $9bn).

The United States, which received an estimated $6bn in remittances in 2013, ranks ninth among high-income nations.

This year the world’s middle-income nations as a group received an estimated $363bn in remittances. That represented growth of 36pc since 2000.

From 2000 to 2013, remittances to high-income nations as a group grew 64pc and to low-income nations increased more than sixfold. Remittances to high-income nations declined during the recession, but remittances to low-income nations did not.

Remittances to high-income nations declined in 2009, rose in 2010 and by 2011 exceeded the total for 2008. Remittances to low-income nations have risen each year since 2000.

 

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