India receives $ 83 billion remittance in 2020: World Bank report – India receives $ 83 billion remittance in 2020, world bank report
According to the latest data released by the World Bank on Wednesday, China received remittances of $ 59.5 billion, compared to $ 68.3 billion in 2019.
The report stated that remittances to India decreased by only 0.2 percent during 2020 and this was due to a 17 percent decrease in remittances from the United Arab Emirates. However, a substantial amount was sent from the US to India during this period.
The report said that India and China were followed by Mexico ($ 42.8 billion), Philippines ($ 34.9 billion), Egypt ($ 29.6 billion), Pakistan ($ 26 billion), France ($ 24.4 billion) and Bangladesh ($ 21 billion) is ranked.
In neighboring Pakistan, remittances increased by 17 percent during this period, with Saudi Arabia contributing the most. In addition, remittances from the United Arab Emirates and European Union countries also increased.
Similarly, remittances to Bangladesh increased by 18.4 percent in 2020 and 5.8 percent for Sri Lanka. In contrast, remittances to Nepal declined by almost two percent.
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