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Latin America and Caribbean
This region received almost $68 billion in remittances in 2006. Mexico received $24 billion and all of South America followed, receiving only slightly less. Though the region’s economy is volatile and experiences boom-and-bust cycles, remittance flows have remained steady for years. A typical migrant sends $2,200 each year, although some expatriates, such as those from Jamaica, send more. Remittances amount to 3 percent of the region’s gross domestic product and 11 percent of the region’s exports.
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Africa
Remittance flows to and within Africa approach $40 billion. Countries in Northern Africa (Morocco, Algeria and Egypt) are the major receivers. But East African countries depend heavily on these flows also, with Somalia standing out as particularly dependent. On an individual basis, Africans send home almost $1,200 yearly. Remittances account for 5 percent of Africa’s gross domestic product and equal 27 percent of its exports.
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Middle East
Nearly $30 billion is remitted to this region each year. The top two recipients are Turkey and Lebanon, receiving almost $8 billion and $6 billion, respectively. Remittances as a percentage of gross domestic product (GDP) differ notably among Middle Eastern countries: from 1.9 percent in Turkey to 25.2 percent in Lebanon. Remittances represent 4 percent of the region’s GDP and 13 percent of its exports.
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Europe and Eurasia
Remittances to Europe total more than $50 billion and are sent to countries including Albania, Poland, Moldova, Romania, Russia and Ukraine. Remittances from Europeans working abroad average $1,600 per year, per individual. Remittances account for 4 percent of gross domestic product and equal 11 percent of its exports. Remittances to Moldova are particularly important, as they represent more than 30 percent of the country’s national income.
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East Asia and the Pacific
This region received $57 billion in remittances, with those going to China accounting for more than one-third of the total. Remittances produced 35 percent of the gross domestic product (GDP) of Laos and more than 10 percent of the GDPs of the Philippines, Vietnam and East Timor. There is significant intraregional migration to Australia, Hong Kong, Japan and Singapore, which have the most dynamic economies.
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South and Central Asia
This region received $56 billion in remittances. India, the main exporter of migrant laborers, has sent more than 10 million workers abroad. Their money transfers back home account for 3 percent of India’s gross domestic product (GDP). Afghanistan receives $2.5 billion a year in remittances, which provide for 30 percent of the country’s GDP. The economies of the former Soviet republics in Central Asia depend to a large degree on remittances, which account for 37 percent of Tajikistan’s GDP, 31 percent of Kyrgyzstan’s, and 17 percent of Uzbekistan’s.
