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We chart the top 10 countries by the most remittances sent, in current U.S. dollars, based on 2022 data from Knomad.
Specifically, these transfer totals represent personal remittances, or money sent between residents in one country to another, including personal transfers and compensation for work done abroad. It does not include, and is separate from, foreign investment.
Top 10 Countries by Personal Remittances Sent (2000-2022)
The U.S. has consistently been home to the worldโs largest immigrant population (45 million people in 2022), a key reason for topping the ranks of sending money abroad over the last two decades.
As a result, countries with the largest diasporas in the U.S.โincluding India, the Philippines, and Mexicoโtend to be the biggest recipients of these flows.
Top Countries Sending Money Abroad in 2000
๐บ๐ธ U.S. – $35B
๐ธ๐ฆ Saudi Arabia – $15B
๐ฆ๐ช UAE – $14B
๐ฉ๐ช Germany – $9B
๐จ๐ญ Switzerland – $6B
๐ฌ๐ง UK – $5B
๐ซ๐ท France – $5B
๐ฐ๐ท South Korea – $4B
๐ฎ๐ฑ Israel – $3B
๐ฑ๐บ Luxembourg – $3B
Top Countries Sending Money Abroad in 2022
๐บ๐ธ U.S. – $82B
๐ฆ๐ช UAE – $40B
๐ธ๐ฆ Saudi Arabia – $39B
๐จ๐ญ Switzerland – $34B
๐จ๐ณ China – $18B
๐ฐ๐ผ Kuwait – $18B
๐ฉ๐ช Germany – $17B
๐ฑ๐บ Luxembourg – $16B
๐ณ๐ฑ Netherlands – $15B
๐ซ๐ท France – $15B
Note: Figures rounded.
Immigrants make up nearly 80% of the population in the UAE (ranked #2 with $40 billion sent), the highest proportion of any country in the world.
Geographic Patterns in Remittances
Setting the countries sending the most money abroad side-by-side with those receiving money from abroad reveals broad geographic patterns. Advanced economies (in North America and Europe) are the biggest senders to developing economies in Asia and Africa.
Finally, Switzerland, Netherlands, and Luxembourg are considered offshore financial centers and can be used as intermediary stops in the movement of money through the world.
The Importance of Personal Remittances
Why are personal remittances important anyway? To start, a staggering one billion people (roughly one out of eight people in the world) depend on money sent back home. In 2022, 200 million migrant workers sent $800 billion to their families in home countries. Three-quarters of the money received is spent on basic necessities like food, medical, and housing expenses.
Thus, personal remittances represent, perhaps, one of the biggest informal engines of social transformation.
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