Outlook for Remittance Flows 2011-13 : Remittance Flows Recover to pre-Crisis Levels

Officially recorded remittance flows to developing countries recovered quickly to $325 billion in 2010 after the global financial crisis. But they have not kept pace with rising prices in recipient countries. Remittance flows are expected to grow at lower but more sustainable rates of 7-8 percent annually during 2011-13 to reach $404 billion by 2013. Remittance flows to Latin America are growing again in 2011 because of the stabilization of the U.S. economy. Remittance flows from Russia and the Gulf Cooperation Council (GCC) countries to Asia have been strong due to high oil prices. However, weak job markets in Western Europe are creating pressures to reduce migration. The crisis in the Middle East and North Africa has brought a great deal of uncertainty for migration and remittance flows. These political crises and the recent global financial crisis have highlighted, once again, the need for high-frequency data on migration and remittances.

Bibliographic Details

Main Authors:	Mohapatra, Sanket, Ratha, Dilip, Silwal, Ani
Language:	English
Published:	World Bank, Washington, DC 2011-05
Subjects:	ACCOUNTING, ACROSS BORDERS, ADVANCED ECONOMIES, ANNUAL GROWTH, BACKED BONDS, BALANCE OF PAYMENTS, BALANCE OF PAYMENTS STATISTICS, BOND, BONDS, CENSUSES, CENTRAL BANK, CENTRAL BANKS, CHECKS, CITIZENSHIP, COMMODITY, COMMODITY PRICES, COMPENSATION OF EMPLOYEES, COMPLICATIONS, CURRENCY APPRECIATION, CURRENCY VALUE, CURRENT POPULATION, DATA ON REMITTANCES, DEBT MANAGEMENT, DEVELOPING COUNTRIES, DEVELOPMENT GOALS, DIASPORA, DISSEMINATION, DOLLAR EXCHANGE RATES, DOMESTIC INFLATION, EARTHQUAKE, EMPLOYMENT OPPORTUNITIES, EQUITY FLOWS, EXCHANGE OF INFORMATION, EXCHANGE RATE, EXCHANGE RATES, EXPENDITURE, EXTERNAL FINANCING, FINANCIAL CRISIS, FOREIGN DIRECT INVESTMENT, FOREIGN STUDENTS, GLOBAL ECONOMY, GROWTH OF REMITTANCES, GROWTH RATE, GROWTH RATES, HIGH INFLATION, HIGH-INCOME COUNTRIES, HIGH-INCOME COUNTRY, ILLEGAL MIGRANTS, IMMIGRANT, IMMIGRANTS, IMMIGRATION, IMMIGRATION POLICIES, IMMIGRATION POLICY, INCOME, INFLATION, INFORMATION TECHNOLOGY, INNOVATIVE FINANCING, INTEREST RATE, INTERNATIONAL COMMUNITY, INTERNATIONAL ORGANIZATION FOR MIGRATION, INTERNATIONAL STUDENTS, INVENTORY, INVESTMENT BANKING, ISSUANCE, LABOR MARKET, LABOR MARKETS, LABOR SHORTAGES, LEGAL FRAMEWORK, LIQUIDITY, LIQUIDITY CRISIS, LOCAL CURRENCY, LOW-INCOME COUNTRIES, MATURITIES, MIGRANT, MIGRANT FLOWS, MIGRANT LABOR, MIGRANT TRANSFERS, MIGRANT WORKERS, MIGRANTS, MIGRATION, MINIMUM SALARY, NATIVE WORKERS, NUMBER OF WORKERS, OIL PRICE, OIL PRICES, OIL REVENUES, OIL-EXPORTING COUNTRIES, OUTPUT, PACE OF DECLINE, POLITICAL RISK, POPULATION DIVISION, PORTFOLIO, POVERTY REDUCTION, PRESS RELEASE, PRIVATE DEBT, PUBLIC-PRIVATE PARTNERSHIPS, PURCHASING POWER, RATE OF INFLATION, RATES OF INFLATION, RECIPIENT COUNTRIES, RECIPIENTS OF REMITTANCES, REMITTANCE, REMITTANCE DATA, REMITTANCE FLOWS, REMITTANCE INFLOWS, REMITTANCE SENDING, REMITTANCES, REMITTANCES FLOWS, REPATRIATION, RESPECT, RETURN, RETURNEES, RISK MANAGEMENT, SAVINGS, SECURITIES, SKILLED MIGRANTS, SKILLED MIGRATION, SKILLED WORKERS, SLOWDOWN, SOVEREIGN RATING, STOCKS, SUBCOMMITTEE ON IMMIGRATION, TECHNICAL ASSISTANCE, TRANSPORTATION, UNCERTAINTY, UNEMPLOYMENT, UNEMPLOYMENT RATES, VALUE OF REMITTANCES, VOLUME OF REMITTANCES, WORLD DEVELOPMENT INDICATORS,
Online Access:	http://documents.worldbank.org/curated/en/2011/05/14721360/outlook-remittance-flows-2011-13-remittance-flows-recover-pre-crisis-levels https://hdl.handle.net/10986/10889
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