Question- Who among the following is the largest recipient of global remittance as per UNIFAD report?
(a) India
(b) China
(c) Pakistan
(d) Sri Lanka
Ans :(a)
Related facts:-
- On the 14th June, 2017, the UN International Fund for Agricultural Development (UN IFAD) released a report titled ‘Sending Money Home: Contributing to the SDGs, One Family at a Time’.
- This is the first-ever study of a 10-year trend in migration and remittance flows over the period 2007-2016.
- The report shows that there have been increases in sending patterns to almost all regions of the world particulary Asia which has witnessed an 87 per cent increase in remittances.
- More than 200 million migrant workers are now supporting an estimated 800 million family members globally.
- Remittance flows have grown over the last decade at a rate averaging 4.2 per cent annually, from $296 billion in 2007 to $445 billion in 2016.
- The top ten sending countries account for almost half of annual flows, led by the United States, Saudi Arabia and the Russian Federation.
- Asia receives 55 per cent of all remittance flows.
- India is the largest recipient of remittances sent by its citizens working abroad followed by China, Philippines, Mexico and Pakistan.
- In the year 2016, India received a total of $ 62.7 billion through foreign remittances.
Related Links:-
https://www.ifad.org/documents/36783902/4a5640d9-e944-4a8c-8007-a1bc461416e6
https://www.ifad.org/en/newsroom/press_release/tags/p34/y2017/44191916