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List of remittance receiving countries 2017 |
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Answer» A remittance is a transfer of money by a foreign worker to an individual in his or her home country. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labour-exporting countries.[1] In 2014, $436 billion went to developing countries, setting a new record. Overall global remittances totaled $582 billion in 2015.[2] Some countries, such as India and China, receive tens of BILLIONS of US dollars in remittances each YEAR from their expatriates and diaspora. In 2014, India received an estimated $70 billion and China an estimated $64 billion.[3] |
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