Which developing countries received the most remittances in 2012?
According to a new World Bank report, officially recorded remittance flows to developing countries are estimated to reach $406 billion in 2012, a growth of 6.5% over the previous year.
The top recipients of migrant remittances in 2012 are India ($70 billion), China ($66 billion), the Philippines ($24 billion), Mexico ($24 billion), and Nigeria ($21 billion).
These flows are expected to rise 8% in 2013 and 10% in 2014 to reach $534 billion in 2015. The size of remittance flows to developing countries is now more than three times that of official development assistance.