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June 30, 2024 Graphics/Design:
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Ranked: The Countries Sending the Most Remittances Abroad
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We chart the top 10 countries by the most remittances sent, in current U.S. dollars, based on 2022 data from Knomad.
Specifically, these transfer totals shown represent personal remittances, or money sent between residents in one country to another, including personal transfers and compensation for work done abroad. It does not include, and is separate from, foreign investment.
Top 10 Countries by Personal Remittances Sent (2000-2022)
The U.S. has consistently been home to the worldโs largest immigrant population (45 million people in 2022), a key reason for topping the ranks of sending money abroad over the last two decades.
As a result, countries with largest diasporas in the U.S.โincluding Indian, the Philippines, and Mexicoโtend to be the biggest recipients of these flows.
Top Countries Sending Money Abroad2000Top Countries Sending Money Abroad (2022)2022 ๐บ๐ธ U.S.$35B๐บ๐ธ U.S.$82B ๐ธ๐ฆ Saudi Arabia$15B๐ฆ๐ช UAE$40B ๐ฆ๐ช UAE$14B๐ธ๐ฆ Saudi Arabia$39B ๐ฉ๐ช Germany$9B๐จ๐ญ Switzerland$34B ๐จ๐ญ Switzerland$6B๐จ๐ณ China$18B ๐ฌ๐ง UK$5B๐ฐ๐ผ Kuwait$18B ๐ซ๐ท France$5B๐ฉ๐ช Germany$17B ๐ฐ๐ท South Korea$4B๐ฑ๐บ Luxembourg$16B ๐ฎ๐ฑ Israel$3B๐ณ๐ฑ Netherlands$15B ๐ฑ๐บ Luxembourg$3B๐ซ๐ท France$15B
Note: Figures rounded.
Similarly, immigrants make up nearly 80% of the population in the UAE (ranked #2 with $80 billion sent), the highest proportion of any country in the world.
Setting the countries sending the most money abroad side-by-side with those receiving money from abroad, reveals broad geographic patterns. Advanced economies (in North America and Europe) are the biggest senders to developing economies in Asia and Africa.
Finally, Switzerland, Netherlands, and Luxembourg are considered offshore financial centers and can be used as intermediary stops in the movement of money through the world.
Why are personal remittances important anyway? To start, a staggering one billion people (roughly one out of eight people in the world) depend on money sent back home. In 2022, 200 million migrant workers sent $800 billion to their families in home