India Surpasses China In Global Remittance Receiving List | India Tops
According to the United Nations report, India has claimed the top rank among the remittance receiving countries, beating China.
In its report, the United Nations said Indians working across the globe sent home 62.7 billion US dollars last year.
The ‘One Family at a Time’ study by the UN International Fund for Agricultural Development stated, about 200 million migrants globally sent more than 445 billion dollars as remittances in 2016 to their families.
Remittance flows have grown over the last decade from 296 billion in 2007 to 445 billion dollars in 2016.
It has increased at a rate averaging 4.2 % per annum.
The study is the FIRST-ever of a 10-year trend in migration and remittance flows over the period 2007-2016.
The report further said 80 % of remittances are received by 23 countries, led by India, China, the Philippines, Mexico and Pakistan.
