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Pakistan 4th largest source of remittances to India

India tops remittance receipts globally with $72.2 billion, says World Bank report

BS Reporter  |  New Delhi 

Pakistan 4th largest source of remittances to India

Surprising as it may seem, but Indians who have migrated to are expected to remit back home a staggering $4.9 billion in 2015. This would make the fourth largest source of India's this year, according to a new study by the

Another interesting statistic the study throws out is that the Bangladesh-corridor ranks third in the list of top migration corridors behind the Mexico-US and the Russia-Ukraine corridors. Bangladeshi migrants residing in are expected to remit $4.6 billion back home in the current year.


Total remittance flows to are expected to touch a staggering $72.2 billion in 2015, making it the highest recipient worldwide, says the World Bank's Migration and Factbook 2016. ranks second, with remittance flows expected to touch $63.9 billion, followed by the ($29.7 billion), ($25.7 billion) and France ($24.6 billion).

Globally, are estimated to exceed $600 billion in 2015. Of this, developing countries are expected to receive a lion's share estimated at $441 billion.

To put this figure in perspective, this amount is roughly three times the official development assistance these countries receive. But, this figure might well be underestimated, too. As these figures don't include unrecorded flows through formal and informal channels, the actual size of is likely to be significantly larger than what the report noted. Migrants from are largely concentrated in the United Arab Emirates (2.3 million), followed by the US (2.1 million), Saudi Arabia (2 million) and (1.4 million). These four countries along with Kuwait and Qatar account for roughly 69 per cent of total remittance flows into

The UAE leads the pack with transfers through this corridor expected to touch $13.2 billion in 2015. It is followed closely by the US ($11.5 billion), Saudi Arabia ($11 billion), ($4.9 billion), Kuwait ($4.8 billion), and Qatar ($4.2 billion).

Pakistan 4th largest source of remittances to India
The top migrant destination is the US, followed by Saudi Arabia, Germany, Russian, UAE, the UK, France, Canada, Spain, and Australia. is the top emigration country with 13.9 million emigrants, followed closely by at 13.2 million and Russia at 10.9 million.

Worldwide, high-income countries are the main source of The US tops the list with an estimated $56.3 billion in outflows in 2014. Saudi Arabia ranks the second, followed by Russia, Switzerland, Germany, UAE, and Kuwait.

First Published: Thu, December 24 2015. 00:30 IST
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