Bangladesh 8th top remittance earner

Bangladesh has returned to the list of the world’s top 10 remittance recipients. The latest issue of Migration and Development Brief, quoting a World Bank release, shows Bangladesh occupying 8th place in the list of the world’s top ten remittance recipients last year. Quoting the World Bank (WB) release, the latest issue of the Migration and Development Brief, released on Friday, said Bangladesh received $ 14 billion in remittances in 2013. According to the WB release, India is topping the list of the world’s top 10 remittance recipients’ list with $ 70 billion in remittances in 2013. China, which received $ 60b in remittance last year, occupies the third position in the list. The other countries are the Philippines ($ 25b), Mexico ($ 22b), Nigeria ($ 21b), Egypt ($ 17b), Pakistan ($ 15b), Vietnam ($ 11b) and Ukraine ($ 10b). It further says: “In terms of remittances as a share of GDP, the top recipients were Tajikistan (52%), Kyrgyz Republic (31%), Nepal and Moldova (both 25%), Samoa and Lesotho (both 23%), Armenia and Haiti (both 21%), Liberia (20%) and Kosovo (17%),” The report says, international migrants from developing countries are expected to send $ 436b in remittances to their home countries this year, despite more deportations from some host countries. “This year’s remittance flows to developing countries will be an increase of 7.8% over the 2013 volume of $ 404b, rising to $ 516b in 2016, according to revised projections from the latest issue of the brief. Global remittances, including those to high-income countries, are estimated at $ 581b this year, from $ 542b in 2013, rising to $ 681b in 2016.” The brief notes that while the medium term outlook for remittances is strong, downside risks loom mainly from migrants’ return to their home countries as a result of conflict or deportation from host countries. Last year saw an intensification of deportations, with more than 370,000 migrants sent back to their home countries from Saudi Arabia alone in the five months since November 2013. “Growth in remittances to the South Asia region has slowed, rising by a modest 2.3% to $111b in 2013, compared with an average annual increase of more than 13% during the previous three years, according to a news agency.