Bangladesh in 2012 retained its position as the seventh most
remittance-earning country, said a World Bank report.
According to WB’s Migration and Development Brief 2013 released on Friday, the total inward migrant remittance to the country was $14 billion last year. In 2011, the amount was $12 billion.
Bangladesh and Pakistan propelled South Asia to emerge as the largest recipient region in 2012, it said.
The report said, ‘flows to Bangladesh, Pakistan and Nepal have been particularly robust, helped by strong economic growth in the GCC. Remittances to the region are projected to remain buoyant in the coming years, though growing more slowly than the high rates experienced in 2011 and 2012.’
Remittances to the South Asia are estimated to have increased sharply in 2012, growing by 12.3 per cent to reach $109 billion. This follows growth averaging 13.8 per cent in the previous two years, the report added.
India remains the largest recipients of migrant remittances with $69 billion followed by China, the Philippines and Mexico though smaller developing countries like Tajikistan, Liberia, Kyrgyz Republic, Lesotho and Moldova receive the most as a share of GDP, said the WB report.
The report said that officially recorded remittances to developing countries were estimated at $401 billion in 2012, and remain a key resource flow far exceeding official development assistance as well as private debt and portfolio equity.
Remittance flows to developing countries could reach $515 billion in 2015, sustaining growth and development in emerging markets, and serving as a lifeline to the poor.
-With New Age input
