India receives $69 bn remittances in 2017; retains top slot
Payments from immigrants back to their home countries rebounded to reach a new record in 2017 but the costs of transferring funds also increased, the World Bank said in a report. The stronger-than-expected recovery in remittances -- payments that are key to supporting the economies of many poor countries - was driven by growth in Europe, Russia, and the United States.
India had in 2015 received remittance of USD 68.91 billion, which fell to USD 62.74 billion in the following year and has now risen to USD 68.96 billion in 2017. Image source: Pixabay