Remittance Trends 2006
In nominal dollar terms Latin America
and the Caribbean region remains the largest recipient of
(recorded) remittances 2006. However, as a share of gross
domestic product (GDP) remittances are highest in the Middle
East and North Africa region. Due to a lack of data,
remittance flows to Sub-Saharan Africa are grossly
underestimated. Recorded remittance flows have grown
robustly in virtually every region, although most quickly in
Europe and Central Asia and in East Asia and the Pacific.
The doubling of recorded remittances over the past five
years is a result of: (a) increased scrutiny of flows since
the terrorist attacks of September 2001; (b) reduction in
remittance costs and expanding networks in the remittance
industry; (c) the depreciation of the U.S. dollar (which
raises the value of remittances denominated in other
currencies); and (d) growth in the migrant stock and
incomes. Although the United States remains the largest
single source of remittances, many remittance-receiving
developing countries also have a significant number of
migrants in countries in the Euro area. Since remittances
receipts in developing countries are typically measured in
US dollars, movement in the Euro-dollar exchange rates can
have a significant valuation effects on remittance, even
without accounting for the wealth effect when the Euro
appreciates or depreciates in real terms relative to the dollar.
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Bibliographic Details
| Main Authors: |
Mohapatra, Sanket,
Ratha, Dilip,
Xu, Zhimei |
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| Language: | English |
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| Published: |
World Bank, Washington, DC
2006-11
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| Subjects: | ACCOUNTING,
BALANCE OF PAYMENTS,
BALANCE OF PAYMENTS STATISTICS,
BANK DATA,
BANK GOVERNOR,
BILL,
CAPITAL FLOWS,
CENTRAL BANK,
CENTRAL BANKS,
COMPENSATION OF EMPLOYEES,
CURRENCY,
CURRENCY APPRECIATION,
DATA ON REMITTANCES,
DEPOSITS,
DEPRECIATION,
DEVELOPING COUNTRIES,
DEVELOPMENT ASSISTANCE,
DEVELOPMENT IMPACT OF REMITTANCES,
DIASPORA,
DOLLAR EXCHANGE RATE,
EXTERNAL FINANCING,
FLOWS OF REMITTANCES,
FOREIGN DIRECT INVESTMENT,
FOREIGN EXCHANGE,
FOREIGN EXCHANGE EARNINGS,
GLOBAL DEVELOPMENT FINANCE,
GLOBAL ECONOMIC PROSPECTS,
HIGH-INCOME COUNTRIES,
HOUSING LOANS,
INCOME,
INCOMES,
INCREASE IN REMITTANCES,
INFORMAL CHANNELS,
INSURANCE,
INTERNATIONAL MIGRANT REMITTANCES,
INVESTMENT FLOWS,
LEVEL OF COMMITMENT,
LOW-INCOME COUNTRIES,
MIDDLE EAST,
MIGRANT TRANSFERS,
MIGRANTS,
MONTHLY REMITTANCE,
NATURAL RESOURCE,
NORTH AFRICA,
OTHER CURRENCIES,
POLICY RESPONSE,
PORTFOLIO,
PRIVATE DEBT,
REMITTANCE,
REMITTANCE COSTS,
REMITTANCE DATA,
REMITTANCE FLOWS,
REMITTANCE INDUSTRY,
REMITTANCE INFLOWS,
REMITTANCE MARKET,
REMITTANCE RECEIPTS,
REMITTANCES,
REMITTANCES REMITTANCES,
RESERVE,
RESERVE BANK,
STOCK PRICE,
SUB-SAHARAN AFRICA,
UNCERTAINTY,
UNION,
VALUATION,
VALUE OF REMITTANCES,
WEALTH EFFECT,
WORLD DEVELOPMENT INDICATOR, |
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| Online Access: | http://documents.worldbank.org/curated/en/2006/11/9246901/remittance-trends-2006
https://hdl.handle.net/10986/11036
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