Saturday, December 23, 2023

Migration 28, Big remittances in selected developing countries

Here are developing countries that are receiving at least $2 billion/month in remittances by their citizens working abroad, trend over the last 10 years. No data for China; Thailand and other countries have values in their national currencies, not in $ or €.

Only India, Mexico and Philippines have consistently rising remittances, the others have fluctuating values.

1. India, $17.15 billion in June 2023.

2. Mexico, $16.8 billion in Sept. 2023.

3. Pakistan, $6.3 billion in in Sept. 2023.

4. Nigeria, $4.9 billion in Dec. 2022.

5. Egypt, $4.6 billion in June 2023.

6. Philippines, $2.9 billion in Sept. 2023.

7. Indonesia, $2.7 billion in Sept. 2023.

Bangladesh, $1.97 billion in Oct. 2023.

The Philippines' $3 B/month average is much much bigger than yearly foreign aid (ie, new loans from multilaterals like WB, ADB, AIIB, IMF,...). The world needs more free mobility of people and goods but not elaborate freebies and subsidies that encourages illegal migration. Freedom to migrate but also freedom to starve if they cannot find work because other governments will not give them elaborate freebies.

See also:
Migration 23: Why Do Many Filipinos Work Abroad? January 14, 2015 
Migration 24: Rohingya Boat People to SE Asia, May 12, 2015
Migration 25, Creating new island-countries to address refugee crisis, September 28, 2015
Migration 26, More countries should be created, October 13, 2015
Migration 27, Border walls, welfare and rule of law, January 09, 2021.

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