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India tops from Diaspora remittances from US
Economy

India tops from Diaspora remittances from US

Pennews

India continues as the top recipient of remittances with its diaspora sending 79 billion dollars home in 2018, according to a World Bank report.

Closely following is China with 67 billion dollars, Mexico with 36 billion dollars, the Philippines with  34 billion dollars and Egypt with  29 billion dollars. India has thus retained its top spot, according to the Migration and Development Brief of the World Bank. In the past three years especially India  has logged a remarkable  remittance flow  from  62.7 billion dollars in 2016 to  65.3 billion dollars the next year.

The Bank said that the remittances grew by more than 14 per cent after the flood disaster in Kerala. This has probably boosted the financial help migrants sent to their families. The remittance growth in Pakistan was moderate because of the decline in inflows from Saudi Arabia, its largest source. However, in Bangladesh, remittances showed a brisk rise by 5 per cent in 2018.