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Personal Remittances contributed 3.7% of India’s GDP in 2012

Nepal had the highest percentage of remittances as part of GDP with 25.3% in 2012 in the South East Asia region while China had the lowest percentage of remittances as part of GDP at 0.5% in 2012 followed by India with 3.7%.

 

Personal remittances, received (% of GDP)

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India and China are expected to represent nearly a third of total remittances to the developing world in 2013, according to a report by the World Bank. While remittances from Indians staying abroad totaled $71 billion in 2013, making India the top destination for a record 6 years in a row, other countries that had a high proportion of remittances were China ($60 billion), Philippines ($26 billion), Mexico ($22 billion), Nigeria ($21 billion), and Egypt ($20 billion).

 

In fact, developing world countries are expected to see an increase of 6.3% to $414 billion in migrant remittances in 2013 which is expected to increase to $540 billion by 2016.

Top 10 Remittance Receiving Countries
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