- The World Bank has released a report titled “Migration and Development Brief, 2020”.
About Migration and Development Brief Report:
- Prepared by: The report is prepared by the Migration and Remittances Unit, Development Economics (DEC)- the premier research and data arm of the World Bank.
- Aim: The report aims to provide an update on key developments. Especially in the area of migration and remittance flows and related policies over the past six months.
- The report also provides medium-term projections of remittance flows to developing countries.
- The report is produced twice a year.
Key Findings of the Migration and Development Brief:
Findings Related to India:
- India has received the highest amount of remittances in 2020. This was followed by China, Mexico, the Philippines, Egypt, Pakistan, France and Bangladesh.
- India’s Remittances: India has received over USD83 billion in remittances in 2020. This was despite the pandemic that devastated the world economy.
- In 2019, India had received USD83.3 billion in remittances.
- India’s remittances fellby just 0.2% in 2020. This was due to a 17% fall in remittances from the United Arab Emirates. However, this was offset by the resilient flows from the United States and other host countries.
- Remittances outflow from Indiain 2020 was USD7 billion. In 2019, it was around USD7.5 billion.
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