Development finance standards

Non-ODA flows to developing countries: Remittances

 

Over recent years, remittance flows - funds sent by people living and working abroad to their home countries - have been increasing rapidly. Today, they represent the largest source of external finance for many developing countries, ahead of Official Development Assistance (ODA) and Foreign Direct Investment (FDI). While private capital mainly flows to emerging countries, remittances are particularly important in poorer countries where they can represent over a third of Gross Domestic Product (GDP). They are also an important contributor to resilience in the face of economic or humanitarian crises.

 

 DATA VISUALISATION

Remittances as an external finance source to developing countries

Non-ODA flows ALL

 

ANALYSIS

Top 10 recipient countries, 2013-2015 average, % of GDP

Remittance recipients 2013-2015 average

Source: DAC statistics and World Bank data on remittances 

 

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DCR 2014 cover

What place for remittances in the post-2015 framework?,
Development Co-operation Report 2014

Remittances definition

How are remittances defined and what do they include?

 

Useful links

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