Remittance

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Remittance

1. See: Remit.

2. See: Migrants' remittance.
References in periodicals archive ?
China and India are the largest recipients of inter-region remittance from the SEA region, as migrants from these two countries fill up domestic jobs in the SEA region.
Looking at the World Bank's assessment on a slowdown in remittances because of the lack of major investments in the last one year, from the time oil prices started declining, we do agree that the remittance growth has also slowed.
The increase in remittances is also caused by an improved economic activity in the main countries hosting Lebanese expatriates such as the United States," it said.
The top five remittance recipient countries, in terms of value of remittances, continue to be India, China, Philippines, Mexico and Nigeria.
The economic contraction in Russia, a major remittance source country, has resulted in migrant job losses while the depreciation of the ruble has reduced the real incomes of migrant workers in Russia and reduced the value of remittances in US dollar terms.
On the other hand, personal remittances by Saudi nationals and foreigners dropped by 7 percent to SR17.
As a percentage of GDP, the top recipients of remittances, in 2012, were Tajikistan (48 percent), Kyrgyz Republic (31 percent), Lesotho and Nepal (25 percent each), and Moldova (24 percent).
Remittances to the Middle East and North Africa (MENA) are projected to reach almost $49 billion in 2013.
Ajit Ranade, chief economist at the Aditya Birla Group, is of the view that the remittances from abroad would help India bridge the current account deficit.
Overseas Pakistanis residing in Gulf Cooperation Council (GCC) countries sent home a record $8 billion in remittances in financial year 2011-12, reflecting a massive 60.
One major factor behind the extraordinary growth is the change to a negative list in the control on such remittances by the FSC on June 30, last year, from the original positive list, which covers 15 specific purposes, including financial support for relatives and friends and the need of triangle trade.
Tarin said: "This event will go down in the history as a memorable moment whereby we are laying down the foundation of perpetual structure for facilitating the flow of remittances by nonresident Pakistanis.