India received remittances of more than $111 billion in 2022, highest in the world: UN

United Nations . The United Nations Migration Agency said that India received remittances of $ 111 billion in 2022, which is the highest in the world and with this India has become the first country to reach and even surpass the $ 100 billion mark. The International Organization for Migration (IOM) said in its World Migration Report, 2024 released on Tuesday that the top five countries receiving remittances in 2022 include India, Mexico, China, Philippines and France. Remittances refer to financial or in-kind transfers made by migrants to friends and relatives in the country of origin.

The report said, “India topped the rest of the countries and received more than $ 111 billion, making it the first country to reach and even surpass the $ 100 billion mark. Mexico was the second largest recipient of remittances in 2022. It achieved this position in 2021 by leaving China behind. Prior to this, China has historically been the second largest recipient of remittances after India. According to the report data, India has received remittances in 2010 ($53.48 billion), 2015 ($68.91 billion) and 2020 ($83.15 billion). ) was also the top country receiving remittances. It received remittances worth $111.22 billion in 2022.

Three countries in Southern Asia, India, Pakistan and Bangladesh, remained among the top 10 recipients of internationally remitted remittances in the world, showing the importance of labor migration from this subregion. Pakistan and Bangladesh were the sixth and eighth recipients of remittances in 2022 with about $30 billion and $21.5 billion respectively. The report says that the largest number of migrants in the world are of Indian origin, whose total number is about 1.3 percent of the total population of the country or 1.8 crores. Most of its expatriate population is living in countries like UAE, America and Saudi Arabia. At the same time, India comes 13th in terms of work for migrants and there are 44.8 lakh migrant laborers in the country.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top