Migrants residing in India sent an estimated $5.6 Billion to family members in their home countries in 2016, according to new report by the Pew Research Center. Which also noted that $62.7 billion was sent back to India by foreign-based Indian workers.
The remittance number is based on calculations by the World Bank. Personal remittances are defined by the World Bank as “the sum of personal transfers and compensation of employees.”
In total, more than $5.68 billion of remittances flowed out of India in 2016.
The leading recipients of the exported remittances are people in Bangladesh, Nepal, and Sri Lanka, reflecting the growing size of Bangladeshi, Nepali, and Srilankan migration into India.
Top countries that received the most in remittances, funds flowed out of India:
- Bangladesh: $4,060,000,000
- Nepal: $971,000,000
- Sri Lanka: $524,000,000
- China: $39,000,000
- France: $14,000,000
- Malaysia: $11,000,000
- Germany $9,000,000
- Nigeria $9,000,000
- Burma (Myanmar) $8,000,000
- Kenya: $6,000,000
- United States: $6,000,000
- Saudi Arabia: $5,000,000
- United Kingdom: $4,000,000
- Australia: $3,000,000
- Bhutan: $3,000,000
- Japan: $3,000,000
- Canada: $2,000,000
- Uganda: $2,000,000
- Vietnam: $2,000,000
- Indonesia: $1,000,000
- Iran: $1,000,000
- Afghanistan: <$1,000,000
- Fiji: <$1,000,000
- Iraq: <$1,000,000
- Kazakhstan: <$1,000,000
- Kuwait: <$1,000,000
- Maldives: <$1,000,000
- Mauritius: <$1,000,000
- Portugal: <$1,000,000
- Russia: <$1,000,000
Remittance Flows In India, 2016: An estimated $62,744,000,000 in remittances was sent to India from other countries in 2016
The incoming outweighs the outgoing by a staggering amount. The United Arab Emirates, again at the top, is responsible for only $12.5 billion coming into India. United States is second with $10.6 billion.These are the top 30 countires:
- United Arab Emirates: $12,575,000,000
- United States: $10,657,000,000
- Saudi Arabia: $10,225,000,000
- Kuwait: $4,173,000,000
- Qatar: $3,769,000,000
- United Kingdom: $3,585,000,000
- Oman: $2,957,000,000
- Nepal: $2,744,000,000
- Canada: $2,617,000,000
- Australia: $1,768,000,000
- Bahrain: $1,216,000,000
- Sri Lanka: $1,151,000,000
- Singapore: $806,000,000
- Italy: $556,000,000
- New Zealand: $310,000,000
- Germany: $302,000,000
- Malaysia: $261,000,000
- France: $228,000,000
- Thailand: $179,000,000
- South Africa: $171,000,000
- Bhutan: $169,000,000
- Spain: $166,000,000
- Tanzania: $139,000,000
- Burma (Myanmar): $125,000,000
- Bangladesh: $114,000,000
- Japan: $105,000,000
- Sweden: $102,000,000
- Netherlands: $100,000,000
- Switzerland: $100,000,000
- Hong Kong: $93,000,000
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