annual remittance

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$6.5 billion gross annual remittance business, confirming its undisputed leadership position in India.
According to the World Bank's latest Migration and Development Brief, the bank estimates that "officially recorded annual remittance flows to low- and middle-income countries" reached USD 529 billion in 2018, an increase of 9.6 percent over the previous record high of USD 483 billion in 2017.
In it's latest Migration and Development Brief, the bank estimates that "officially recorded annual remittance flows to low and middle-income countries" reached $529 billion in 2018, an increase of 9.6 percent over the previous record high of $483 billion in 2017.
During debate on the proposal, MP Khaled Bu Onk also said that the annual remittance by expatriate workers was around BD927.2 million, meaning they were not spending money in the local economy.
Moreover, Pakistanis working in UAE are sending annual remittance of 4.5 billion dollars, which will increase in future.
Analyzing Cuba's USD 3.6bn estimated annual remittance inflows, it is projected that up to 3bn emanates from the United States, with Florida as the chief epicenter of financial origin, due to the high prevalence of Cuban expatriates living in the state.
The Indian diaspora in the GCC is now 9mn, with annual remittance at US$35bn.
Considering the fact that the annual remittance in the world is of the order of $500 billion, these funds could make a difference at the micro and macro level.
The annual remittance inflow to the region is far greater than that accounted for by aid, and without it the private sector would not be thriving as it is.
Bangladesh, Nepal, and India, on the other hand, witnessed a drop in average annual remittance growth between 17 and 23 percent.
Around 60% of annual remittance flows come from the US.
The annual remittance income in the early 1980s exceeded the joint federal and provincial development expenditures for Pakistan as a whole.

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