Home > Business > PTI > Report
India tops list of workers remittances at
$10 billion: World Bank
April 02, 2003 16:18 IST
India topped the World Bank's list of workers' remittances at $10 billion, which is over 13 per cent of the total $72.3 billion flowing to all developing countries during 2001.
India was closely followed by Mexico with $9 billion, the Philippines with $6.4 billion, Morocco ($3.3 billion), Egypt ($2.9 billion) and Turkey ($2.8 billion).
Of the neighbouring countries, Bangladesh received $2.1 billion, while Pakistan got $1.5 billion and Sri Lanka $1.1 billion, according to the World Bank's 'Global Development Finance 2003' report released on Wednesday.
Considering the aggregate inflow in India, Bangladesh, Pakistan and Sri Lanka, the report said: "South Asia was the largest recipient, with remittances of nearly 2.5 per cent of GDP in 2001."
"Although in nominal terms, the top recipients of remittances included large countries -- India, Mexico and the Philippines. Remittances as a share of GDP were larger in low-income countries," the report said.
Tonga, Lesotho, Jordan, Albania, Nicaragua, Yemen, Moldova and Lebanon topped the chart in terms of remittances to GDP ratio.
"Net fiscal loss associated with Indian emigration to the US was estimated at 0.24-0.58 per cent of India's GDP in 2001, but remittances amounted to at least 2.1 per cent of GDP in the same year," the report said.
US and Saudi Arabia are the largest sources of workers' remittances to developing nations followed by Germany, Belgium and Switzerland.
© Copyright 2003 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
|
![](/uim/common/trans.gif)
|
What do you think about the story?
![](/uim/common/trans.gif)
|
![](/uim/common/post_ur_msg.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
Read what others have to say:
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
Number of User Comments: 4
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
Sub: african nris
its a good picture explaining the worth of indians. i would suggest the survey should also include the african continent which is having a very ...
![](/uim/common/msg_more.gif)
Posted by bishwaranajn
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
Sub: workers remittances and trade in services
This very interesting data and that WTO negotiators on trade in services should get in order to shed more light on and relevance to the ...
![](/uim/common/msg_more.gif)
Posted by Falou Samb
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
Sub: Workers' FEX Remittances Are Lying Idle in Kerala Banks
The Government should initiate penal action against Kerala bankers for keeping those billions idle, for not lending them in Kerala and for trying to smuggle ...
![](/uim/common/msg_more.gif)
Posted by R.Sajan
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
Sub: Nothing
And what do we get for it? I guess red tape and nothing else. Even our children are asked for domocile cert. if we need ...
![](/uim/common/msg_more.gif)
Posted by majid
![](/uim/common/trans.gif)
|
![](/uim/common/trans.gif)
|
![](/uim/common/view_all_msg.gif)
|
|
![](/uim/common/trans.gif)
Disclaimer
![](/uim/common/trans.gif)