Labor Migrants Around the World Have Transferred $ 529 billion to Their Relatives in 2018
$ 529 billion - migrant workers around the world have sent to their relatives over $ 529 billion in 2018. The information is from a World Bank report, and according to experts, the sum is a record high. Which countries have received the most funds you can find out in the next sentences.
According to World Bank data, most of the money transfers are made to low or middle income countries.
Previous record high of USD 483 billion was in 2017, which means that the indicator for 2018 grew by 9.6 percent.
According to economists, growth is mainly related to improving the economic situation and reducing unemployment in the United States. The volume of cash flows from the Gulf countries and Russia has also increased considerably.
Total international transfers made by private individuals, including the wealthy country, have reached $ 689 billion in 2018, up from $ 633 billion a year earlier.
Money for the East Asian and Pacific regions increased by 7%, while South Asia rose by 12%. India was the main recipient of these transfers with $ 79 billion, followed by China with $ 67 billion, Mexico with $ 36 billion.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » Bulgarian Prosecution Office Requested More Info from US on Sanctioned Bulgarian Nationals under Magnitsky Act
- » Bulgaria’s Sofia Tech Park to Boast Most Powerful Computer
- » Bulgaria Requests from US Additional Info on Persons Sanctioned under Magnitski Act
- » Passenger Vehicle Sales See Sharp Uptick in Bulgaria
- » EU Health Commissioner Comes to Sofia to Discuss Pandemic Issues, Vaccination
- » Bulgaria: President Radev Briefs EU, US Ambassadors on Caretaker Government Priorities