Migration and Development Brief, No. 20
Officially recorded remittance flows to developing countries reached an estimated $401 billion in 2012, growing by 5.3 percent compared with 2011. Remittance flows are expected to grow at an average of 8.8 percent annual rate during 2013-2015 to ab...
| Main Authors: | , , , |
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| Language: | English en_US |
| Published: |
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/04/17759157/developing-countries-received-401-billion-remittances-during-2012 http://hdl.handle.net/10986/17020 |
| Summary: | Officially recorded remittance flows to
developing countries reached an estimated $401 billion in
2012, growing by 5.3 percent compared with 2011. Remittance
flows are expected to grow at an average of 8.8 percent
annual rate during 2013-2015 to about $515 billion in 2015.
Employment conditions in the United States (U.S.), including
for migrants are improving, as also reflected in the quota
for H-1B visas being rapidly filled for fiscal year 2014.
Political momentum behind immigration reform in the US is
growing. Average remittance prices were broadly unchanged at
just above 9 percent over the last year, while the weighted
average dropped in the first quarter of 2013 to an all-time
low of 6.9 percent. While this suggests progress in reducing
prices in high volume remittance corridors, prices continue
to remain high in smaller corridors, affecting countries
that have greater dependence on remittances. Migration and
remittances are being featured in ongoing discussions on the
millennium development goals and the post-2015 agenda. |
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