Business
Global Remittances
India topped global remittances again this year with $53.1 billion in inward remittances in 2010.
By
India topped global remittances again this year with $53.1 billion in inward remittances in 2010.
Global remittances to developing countries, which fell precipitously in the wake of the international financial crisis in 2008 and 2009, rebounded in 2010. However, as the currency of several countries has appreciated against the US dollar, the growth in local currency has been significantly slower and adjusted for inflation actually declined worldwide by 2.7%. In the case of India, the inflation and local currency adjusted remittances declined 10.4%.
| Country | Remittances (Billions) | 2009-10 Growth |
| India | $53.10 | 7.40% |
| China | $51.30 | 5.30% |
| Mexico | $22.00 | 0.20% |
| Philippines | $21.40 | 8.10% |
| Bangladesh | $10.80 | 2.70% |
| Nigeria | $10.00 | 4.80% |
| Pakistan | $9.70 | 11.10% |
| Lebanon | $8.40 | 11.30% |
| Vietnam | $8.00 | 17.00% |
| Egypt | $7.70 | 8.10% |
| Total | $324.70 | 3.90% |