{"id":106875,"date":"2021-05-14T15:50:17","date_gmt":"2021-05-14T10:20:17","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=106875"},"modified":"2021-05-14T22:01:48","modified_gmt":"2021-05-14T16:31:48","slug":"world-banks-migration-and-development-brief-india-is-the-top-receiver-of-remittances","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/world-banks-migration-and-development-brief-india-is-the-top-receiver-of-remittances\/","title":{"rendered":"World Bank&#8217;s &#8220;Migration and Development Brief&#8221;: India is the top receiver of remittances"},"content":{"rendered":"\n<p><strong>What is the News?<\/strong><\/p>\n<p>The World Bank has released a report titled \u201c<strong>Migration and Development Brief, 2020\u201d.<\/strong><\/p>\n<h5><strong>Key Findings of the Migration and Development Brief:<\/strong><\/h5>\n<p><strong>\u00a0<\/strong><strong>Findings Related to India:<\/strong><\/p>\n<ul>\n<li><strong>Firstly, India <\/strong>has received the<span style=\"text-decoration: underline;\"> highest amount of remittances<\/span> in 2020. This was followed by China, Mexico, the Philippines, Egypt, Pakistan, France and Bangladesh.<\/li>\n<li><strong>Secondly, India\u2019s Remittances<\/strong>: India has received over USD83 billion in remittances in 2020. This was despite the pandemic that devastated the world economy.\n<ul>\n<li>In 2019, India had received USD83.3 billion in remittances.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Thirdly, India\u2019s remittances fell<\/strong> by <span style=\"text-decoration: underline;\">just 0.2% in 2020<\/span>. This was due to a 17% fall in remittances from the United Arab Emirates. However, this was offset by the resilient flows from the United States and other host countries.<\/li>\n<li><strong>Fourthly, Remittances outflow from India<\/strong> in 2020 was USD7 billion. In 2019, it was around USD7.5 billion.<\/li>\n<\/ul>\n<h5><strong>Other Key Findings:<\/strong><\/h5>\n<ul>\n<li><strong>China <\/strong>received $59.5 billion in remittances in 2020 against $68.3 billion in 2019.<\/li>\n<li><strong>The remittance outflow was maximum <\/strong>from the <span style=\"text-decoration: underline;\">United States. <\/span>This is followed by the UAE, Saudi Arabia, Switzerland, Germany and China.<\/li>\n<li><strong>Remittance inflows<\/strong> have increased in Latin America, South Asia, Middle East and North Africa.<\/li>\n<li><strong>However, remittances have fallen<\/strong> for East Asia and the Pacific, Europe, Central Asia and Sub-Saharan Africa.<\/li>\n<\/ul>\n<h5><strong>About Migration and Development Brief Report:<\/strong><\/h5>\n<ul>\n<li><strong>Prepared by: <\/strong>The report is prepared by the Migration and Remittances Unit, Development Economics (DEC)- the premier research and data arm of the World Bank.<\/li>\n<li><strong>Aim: <\/strong>The report aims to provide an update on key developments. Especially in the area of migration and remittance flows and related policies over the past six months.\n<ul>\n<li>The report also provides medium-term projections of remittance flows to developing countries.<\/li>\n<\/ul>\n<\/li>\n<li><strong>The report is produced <\/strong>twice a year.<\/li>\n<\/ul>\n<h5><strong>About Remittances:<\/strong><\/h5>\n<ul>\n<li><strong>Remittance <\/strong>is money usually sent to a person in another country. The sender is typically an immigrant and the recipient a relative back home.<\/li>\n<li>Remittances represent one of the largest sources of income for people in low-income and developing nations.<\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><strong>Source: <\/strong><a href=\"https:\/\/indianexpress.com\/article\/business\/economy\/india-received-83-billion-in-remittances-in-2020-world-bank-report-7313003\/\"><strong>Indian Express<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? The World Bank has released a report titled \u201cMigration and Development Brief, 2020\u201d. Key Findings of the Migration and Development Brief: \u00a0Findings Related to India: Firstly, India has received the highest amount of remittances in 2020. This was followed by China, Mexico, the Philippines, Egypt, Pakistan, France and Bangladesh. Secondly, India\u2019s&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/world-banks-migration-and-development-brief-india-is-the-top-receiver-of-remittances\/\">Continue reading <span class=\"screen-reader-text\">World Bank&#8217;s &#8220;Migration and Development Brief&#8221;: India is the top receiver of remittances<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,164,1305,9],"tags":[1284,1420],"class_list":["post-106875","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-international-relations-daily-factly-articles","category-index-reports-bodies","category-public","tag-eco_2","tag-ir_3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704760041},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/106875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=106875"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/106875\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=106875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=106875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=106875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}