Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011

Officially recorded remittance flows to developing countries are estimated to have reached $351 billion in 2011, up 8 percent over 2010. For the first time since the global financial crisis, remittance flows to all six developing regions rose in 20...

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Main Authors:	Mohapatra, Sanket, Ratha, Dilip, Silwal, Ani
Format:	Brief
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	ABUSE ASSETS AVERAGE REMITTANCE BALANCE OF PAYMENT BALANCE OF PAYMENTS BALANCE OF PAYMENTS MANUAL BALANCE OF PAYMENTS STATISTICS BOND BOND ISSUANCE BONDS CENTRAL BANK CENTRAL BANKS CIVIL CONFLICT COMMERCIAL BANKS COMMODITY PRICE COMPENSATION OF EMPLOYEES COMPETITIVENESS COUNTRIES OF ORIGIN COUNTRY OF ORIGIN CURRENCY DEPRECIATION CURRENT POPULATION DATA ON REMITTANCES DEBT DEBT CRISIS DESTINATION COUNTRY DEVELOPING COUNTRIES DEVELOPMENT IMPACT OF REMITTANCES DIASPORA ECONOMIC CRISIS ECONOMIC UNCERTAINTY EXCHANGE RATES FINANCIAL CRISIS FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENTS FOREIGN POLICY FOREIGN STUDENTS FOREIGN WORKERS FUTURE REMITTANCES GLOBAL ECONOMY GLOBAL REMITTANCES GROSS DOMESTIC PRODUCT GROWTH OF REMITTANCES GROWTH RATE HIGH-INCOME COUNTRIES HOME COUNTRIES HOME COUNTRY HOME CURRENCY ILLEGAL IMMIGRATION IMMIGRANTS IMMIGRATION IMMIGRATION POLICIES INCOME INFORMAL CHANNELS INFRASTRUCTURE DEVELOPMENT INSTRUMENT INTERNATIONAL BANKS INTERNATIONAL TRANSACTIONS ISSUANCE JOB CREATION LABOR FORCE LABOR MARKET LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET COMPETITION MIGRANT MIGRANT DESTINATION COUNTRIES MIGRANT REMITTANCE MIGRANT REMITTANCES MIGRANT TRANSFERS MIGRANT WORKER MIGRANT WORKERS MIGRANT-SENDING COUNTRIES MIGRANTS MIGRATION MINIMUM SALARY MINIMUM WAGE MONETARY FUND MONEY TRANSFER MONEY TRANSFER COMPANIES MONEY TRANSFER OPERATORS NATIONAL LEVEL NATIONALS OIL PRICE OIL PRICES PERSISTENT UNEMPLOYMENT PERSONAL REMITTANCES POST-CRISIS PERIOD POVERTY REDUCTION PROGRESS PURCHASING POWER QUOTAS RATES OF GROWTH RECIPIENT COUNTRIES RECIPIENTS OF REMITTANCES REMITTANCE REMITTANCE CORRIDORS REMITTANCE COSTS REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCE OUTFLOWS REMITTANCE SERVICES REMITTANCES REMITTANCES FLOWS REMITTANCES REMITTANCES RESERVE RESERVE BANK RETURN SCARCE RESOURCES SEND REMITTANCES SKILLED MIGRANTS SLOWDOWN SOVEREIGN RISK TRANSACTION UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES VALUE OF REMITTANCES VOLUME OF REMITTANCES VULNERABILITY WORLD DEVELOPMENT INDICATORS
Online Access:	http://documents.worldbank.org/curated/en/2011/12/16977544/outlook-remittance-flows-2012-14-remittance-flows-developing-countries-exceed-350-billion-2011 http://hdl.handle.net/10986/16182

id	okr-10986-16182
recordtype	oai_dc
spelling	okr-10986-161822021-04-23T14:03:27Z Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011 Mohapatra, Sanket Ratha, Dilip Silwal, Ani ABUSE ASSETS AVERAGE REMITTANCE BALANCE OF PAYMENT BALANCE OF PAYMENTS BALANCE OF PAYMENTS MANUAL BALANCE OF PAYMENTS STATISTICS BOND BOND ISSUANCE BONDS CENTRAL BANK CENTRAL BANKS CIVIL CONFLICT COMMERCIAL BANKS COMMODITY PRICE COMPENSATION OF EMPLOYEES COMPETITIVENESS COUNTRIES OF ORIGIN COUNTRY OF ORIGIN CURRENCY DEPRECIATION CURRENT POPULATION DATA ON REMITTANCES DEBT DEBT CRISIS DESTINATION COUNTRY DEVELOPING COUNTRIES DEVELOPMENT IMPACT OF REMITTANCES DIASPORA ECONOMIC CRISIS ECONOMIC UNCERTAINTY EXCHANGE RATES FINANCIAL CRISIS FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENTS FOREIGN POLICY FOREIGN STUDENTS FOREIGN WORKERS FUTURE REMITTANCES GLOBAL ECONOMY GLOBAL REMITTANCES GROSS DOMESTIC PRODUCT GROWTH OF REMITTANCES GROWTH RATE HIGH-INCOME COUNTRIES HOME COUNTRIES HOME COUNTRY HOME CURRENCY ILLEGAL IMMIGRATION IMMIGRANTS IMMIGRATION IMMIGRATION POLICIES INCOME INFORMAL CHANNELS INFRASTRUCTURE DEVELOPMENT INSTRUMENT INTERNATIONAL BANKS INTERNATIONAL TRANSACTIONS ISSUANCE JOB CREATION LABOR FORCE LABOR MARKET LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET COMPETITION MIGRANT MIGRANT DESTINATION COUNTRIES MIGRANT REMITTANCE MIGRANT REMITTANCES MIGRANT TRANSFERS MIGRANT WORKER MIGRANT WORKERS MIGRANT-SENDING COUNTRIES MIGRANTS MIGRATION MINIMUM SALARY MINIMUM WAGE MONETARY FUND MONEY TRANSFER MONEY TRANSFER COMPANIES MONEY TRANSFER OPERATORS NATIONAL LEVEL NATIONALS OIL PRICE OIL PRICES PERSISTENT UNEMPLOYMENT PERSONAL REMITTANCES POST-CRISIS PERIOD POVERTY REDUCTION PROGRESS PURCHASING POWER QUOTAS RATES OF GROWTH RECIPIENT COUNTRIES RECIPIENTS OF REMITTANCES REMITTANCE REMITTANCE CORRIDORS REMITTANCE COSTS REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCE OUTFLOWS REMITTANCE SERVICES REMITTANCES REMITTANCES FLOWS REMITTANCES REMITTANCES RESERVE RESERVE BANK RETURN SCARCE RESOURCES SEND REMITTANCES SKILLED MIGRANTS SLOWDOWN SOVEREIGN RISK TRANSACTION UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES VALUE OF REMITTANCES VOLUME OF REMITTANCES VULNERABILITY WORLD DEVELOPMENT INDICATORS Officially recorded remittance flows to developing countries are estimated to have reached $351 billion in 2011, up 8 percent over 2010. For the first time since the global financial crisis, remittance flows to all six developing regions rose in 2011. Growth of remittances in 2011 exceeded our earlier expectations in four regions, especially in Europe and Central Asia (due to higher outward flows from Russia that benefited from high oil prices) and Sub-Saharan Africa (due to strong south-south flows and weaker currencies in some countries that attracted larger remittances). By contrast, growth in remittance flows to Latin America and Caribbean was lower than previously expected, due to continuing weakness in the U.S. economy and Spain. Remittance costs have fallen steadily from 8.8 percent in 2008 to 7.3 percent in the third quarter of 2011. However, remittance costs continue to remain high, especially in Africa and in small nations where remittances provide a life line to the poor. 2013-10-16T15:59:57Z 2013-10-16T15:59:57Z 2011-12-01 http://documents.worldbank.org/curated/en/2011/12/16977544/outlook-remittance-flows-2012-14-remittance-flows-developing-countries-exceed-350-billion-2011 http://hdl.handle.net/10986/16182 English en_US Migration and Development Brief;No. 17 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ABUSE ASSETS AVERAGE REMITTANCE BALANCE OF PAYMENT BALANCE OF PAYMENTS BALANCE OF PAYMENTS MANUAL BALANCE OF PAYMENTS STATISTICS BOND BOND ISSUANCE BONDS CENTRAL BANK CENTRAL BANKS CIVIL CONFLICT COMMERCIAL BANKS COMMODITY PRICE COMPENSATION OF EMPLOYEES COMPETITIVENESS COUNTRIES OF ORIGIN COUNTRY OF ORIGIN CURRENCY DEPRECIATION CURRENT POPULATION DATA ON REMITTANCES DEBT DEBT CRISIS DESTINATION COUNTRY DEVELOPING COUNTRIES DEVELOPMENT IMPACT OF REMITTANCES DIASPORA ECONOMIC CRISIS ECONOMIC UNCERTAINTY EXCHANGE RATES FINANCIAL CRISIS FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENTS FOREIGN POLICY FOREIGN STUDENTS FOREIGN WORKERS FUTURE REMITTANCES GLOBAL ECONOMY GLOBAL REMITTANCES GROSS DOMESTIC PRODUCT GROWTH OF REMITTANCES GROWTH RATE HIGH-INCOME COUNTRIES HOME COUNTRIES HOME COUNTRY HOME CURRENCY ILLEGAL IMMIGRATION IMMIGRANTS IMMIGRATION IMMIGRATION POLICIES INCOME INFORMAL CHANNELS INFRASTRUCTURE DEVELOPMENT INSTRUMENT INTERNATIONAL BANKS INTERNATIONAL TRANSACTIONS ISSUANCE JOB CREATION LABOR FORCE LABOR MARKET LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET COMPETITION MIGRANT MIGRANT DESTINATION COUNTRIES MIGRANT REMITTANCE MIGRANT REMITTANCES MIGRANT TRANSFERS MIGRANT WORKER MIGRANT WORKERS MIGRANT-SENDING COUNTRIES MIGRANTS MIGRATION MINIMUM SALARY MINIMUM WAGE MONETARY FUND MONEY TRANSFER MONEY TRANSFER COMPANIES MONEY TRANSFER OPERATORS NATIONAL LEVEL NATIONALS OIL PRICE OIL PRICES PERSISTENT UNEMPLOYMENT PERSONAL REMITTANCES POST-CRISIS PERIOD POVERTY REDUCTION PROGRESS PURCHASING POWER QUOTAS RATES OF GROWTH RECIPIENT COUNTRIES RECIPIENTS OF REMITTANCES REMITTANCE REMITTANCE CORRIDORS REMITTANCE COSTS REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCE OUTFLOWS REMITTANCE SERVICES REMITTANCES REMITTANCES FLOWS REMITTANCES REMITTANCES RESERVE RESERVE BANK RETURN SCARCE RESOURCES SEND REMITTANCES SKILLED MIGRANTS SLOWDOWN SOVEREIGN RISK TRANSACTION UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES VALUE OF REMITTANCES VOLUME OF REMITTANCES VULNERABILITY WORLD DEVELOPMENT INDICATORS
spellingShingle	ABUSE ASSETS AVERAGE REMITTANCE BALANCE OF PAYMENT BALANCE OF PAYMENTS BALANCE OF PAYMENTS MANUAL BALANCE OF PAYMENTS STATISTICS BOND BOND ISSUANCE BONDS CENTRAL BANK CENTRAL BANKS CIVIL CONFLICT COMMERCIAL BANKS COMMODITY PRICE COMPENSATION OF EMPLOYEES COMPETITIVENESS COUNTRIES OF ORIGIN COUNTRY OF ORIGIN CURRENCY DEPRECIATION CURRENT POPULATION DATA ON REMITTANCES DEBT DEBT CRISIS DESTINATION COUNTRY DEVELOPING COUNTRIES DEVELOPMENT IMPACT OF REMITTANCES DIASPORA ECONOMIC CRISIS ECONOMIC UNCERTAINTY EXCHANGE RATES FINANCIAL CRISIS FOREIGN DIRECT INVESTMENT FOREIGN INVESTMENTS FOREIGN POLICY FOREIGN STUDENTS FOREIGN WORKERS FUTURE REMITTANCES GLOBAL ECONOMY GLOBAL REMITTANCES GROSS DOMESTIC PRODUCT GROWTH OF REMITTANCES GROWTH RATE HIGH-INCOME COUNTRIES HOME COUNTRIES HOME COUNTRY HOME CURRENCY ILLEGAL IMMIGRATION IMMIGRANTS IMMIGRATION IMMIGRATION POLICIES INCOME INFORMAL CHANNELS INFRASTRUCTURE DEVELOPMENT INSTRUMENT INTERNATIONAL BANKS INTERNATIONAL TRANSACTIONS ISSUANCE JOB CREATION LABOR FORCE LABOR MARKET LOCAL CURRENCY LOW-INCOME COUNTRIES MARKET COMPETITION MIGRANT MIGRANT DESTINATION COUNTRIES MIGRANT REMITTANCE MIGRANT REMITTANCES MIGRANT TRANSFERS MIGRANT WORKER MIGRANT WORKERS MIGRANT-SENDING COUNTRIES MIGRANTS MIGRATION MINIMUM SALARY MINIMUM WAGE MONETARY FUND MONEY TRANSFER MONEY TRANSFER COMPANIES MONEY TRANSFER OPERATORS NATIONAL LEVEL NATIONALS OIL PRICE OIL PRICES PERSISTENT UNEMPLOYMENT PERSONAL REMITTANCES POST-CRISIS PERIOD POVERTY REDUCTION PROGRESS PURCHASING POWER QUOTAS RATES OF GROWTH RECIPIENT COUNTRIES RECIPIENTS OF REMITTANCES REMITTANCE REMITTANCE CORRIDORS REMITTANCE COSTS REMITTANCE FLOWS REMITTANCE INFLOWS REMITTANCE OUTFLOWS REMITTANCE SERVICES REMITTANCES REMITTANCES FLOWS REMITTANCES REMITTANCES RESERVE RESERVE BANK RETURN SCARCE RESOURCES SEND REMITTANCES SKILLED MIGRANTS SLOWDOWN SOVEREIGN RISK TRANSACTION UNEMPLOYMENT UNEMPLOYMENT RATE UNEMPLOYMENT RATES VALUE OF REMITTANCES VOLUME OF REMITTANCES VULNERABILITY WORLD DEVELOPMENT INDICATORS Mohapatra, Sanket Ratha, Dilip Silwal, Ani Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011
relation	Migration and Development Brief;No. 17
description	Officially recorded remittance flows to developing countries are estimated to have reached $351 billion in 2011, up 8 percent over 2010. For the first time since the global financial crisis, remittance flows to all six developing regions rose in 2011. Growth of remittances in 2011 exceeded our earlier expectations in four regions, especially in Europe and Central Asia (due to higher outward flows from Russia that benefited from high oil prices) and Sub-Saharan Africa (due to strong south-south flows and weaker currencies in some countries that attracted larger remittances). By contrast, growth in remittance flows to Latin America and Caribbean was lower than previously expected, due to continuing weakness in the U.S. economy and Spain. Remittance costs have fallen steadily from 8.8 percent in 2008 to 7.3 percent in the third quarter of 2011. However, remittance costs continue to remain high, especially in Africa and in small nations where remittances provide a life line to the poor.
format	Publications & Research :: Brief
author	Mohapatra, Sanket Ratha, Dilip Silwal, Ani
author_facet	Mohapatra, Sanket Ratha, Dilip Silwal, Ani
author_sort	Mohapatra, Sanket
title	Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011
title_short	Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011
title_full	Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011
title_fullStr	Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011
title_full_unstemmed	Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011
title_sort	outlook for remittance flows 2012-14 : remittance flows to developing countries exceed $350 billion in 2011
publisher	World Bank, Washington, DC
publishDate	2013
url	http://documents.worldbank.org/curated/en/2011/12/16977544/outlook-remittance-flows-2012-14-remittance-flows-developing-countries-exceed-350-billion-2011 http://hdl.handle.net/10986/16182
_version_	1764432420288856064

Outlook for Remittance Flows 2012-14 : Remittance Flows to Developing Countries Exceed $350 Billion in 2011

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