value: Economy & Growth

value: Financial Sector

Israel

iso2Code: IL

country_code: ISR

country_name: Israel

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


name: Personal remittances, paid (current US$)

value: World Development Indicators

sourceNone: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

Italy

iso2Code: IT

value: Europe & Central Asia

iso2code: XD

value: High income

iso2code: XX

value: Not classified

capitalCity: Rome

country_code: ITA

country_name: Italy

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: CC BY-4.0

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.

value: Annual

value: World Bank staff estimates based on IMF balance of payments data.

schema: wb


Jamaica

iso2Code: JM

iso2code: ZJ

value: Latin America & Caribbean

iso2code: XJ

value: Latin America & Caribbean (excluding high income)

iso2code: XT

value: Upper middle income

iso2code: XF

value: IBRD

capitalCity: Kingston

country_code: JAM

country_name: Jamaica

value: Personal remittances, paid (current US$)

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.


value: World Development Indicators

value: Economy & Growth

value: Financial Sector

Jordan

iso2Code: JO

iso2code: ZQ

value: Middle East & North Africa

iso2code: XQ

value: Middle East & North Africa (excluding high income)

iso2code: XN

value: Lower middle income

capitalCity: Amman

country_code: JOR

country_name: Jordan

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


Japan

iso2Code: JP

value: East Asia & Pacific

value: High income

value: Not classified

capitalCity: Tokyo

country_code: JPN

country_name: Japan

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: CC BY-4.0

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.


Kazakhstan

iso2Code: KZ

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

value: Upper middle income

value: IBRD

capitalCity: Astana

country_code: KAZ

country_name: Kazakhstan

value: Personal remittances, paid (current US$)

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value: Annual

value: World Bank staff estimates based on IMF balance of payments data.


value: World Development Indicators

value: Economy & Growth

value: Financial Sector

Kenya

iso2Code: KE

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

value: Lower middle income

iso2code: XH

value: Blend

capitalCity: Nairobi

country_code: KEN

country_name: Kenya

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


Kyrgyz Republic

iso2Code: KG

value: Europe & Central Asia

iso2code: XI

value: IDA

capitalCity: Bishkek

country_code: KGZ

country_name: Kyrgyz Republic

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: CC BY-4.0

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.


Cambodia

iso2Code: KH

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

capitalCity: Phnom Penh

country_code: KHM

country_name: Cambodia

value: Personal remittances, paid (current US$)

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value: Annual

value: World Bank staff estimates based on IMF balance of payments data.


value: World Development Indicators

value: Economy & Growth

value: Financial Sector

Kiribati

iso2Code: KI

value: Lower middle income

capitalCity: Tarawa

country_code: KIR

country_name: Kiribati


St. Kitts and Nevis

iso2Code: KN

iso2code: ZJ

value: Latin America & Caribbean

iso2code: XD

value: High income

value: IBRD

capitalCity: Basseterre

country_code: KNA

country_name: St. Kitts and Nevis

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


Korea, Rep.

iso2Code: KR

iso2code: XX

value: Not classified

capitalCity: Seoul

country_code: KOR

country_name: Korea, Rep.

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: CC BY-4.0


Kuwait

iso2Code: KW

iso2code: ZQ

value: Middle East & North Africa

capitalCity: Kuwait City

country_code: KWT

country_name: Kuwait

value: Personal remittances, paid (current US$)

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.


value: World Development Indicators

value: Economy & Growth

iso2Code: XJ

name: Latin America & Caribbean (excluding high income)

value: Aggregates

country_code: LAC

value: Annual

value: World Bank staff estimates based on IMF balance of payments data.


value: Financial Sector

Lao PDR

iso2Code: LA

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

iso2code: XN

value: Lower middle income

value: IDA

capitalCity: Vientiane

country_code: LAO

country_name: Lao PDR


Lebanon

iso2Code: LB

iso2code: XQ

value: Middle East & North Africa (excluding high income)

iso2code: XF

value: IBRD

capitalCity: Beirut

country_code: LBN

country_name: Lebanon

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


Liberia

iso2Code: LR

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XM

value: Low income

capitalCity: Monrovia

country_code: LBR

country_name: Liberia

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: Personal remittances, paid (current US$)

value: CC BY-4.0

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.


value: World Development Indicators

value: Economy & Growth

value: Financial Sector

Libya

iso2Code: LY

value: Middle East & North Africa

iso2code: XT

value: Upper middle income

capitalCity: Tripoli

country_code: LBY

country_name: Libya

value: Annual

value: World Bank staff estimates based on IMF balance of payments data.


St. Lucia

iso2Code: LC

iso2code: ZJ

value: Latin America & Caribbean

value: Latin America & Caribbean (excluding high income)

iso2code: XH

value: Blend

capitalCity: Castries

country_code: LCA

country_name: St. Lucia

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value: Economic Policy & Debt: Balance of payments: Current account: Transfers


Latin America & Caribbean

value: Aggregates

country_code: LCN

country_name: Latin America & Caribbean

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: Personal remittances, paid (current US$)

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


value: World Development Indicators

iso2Code: XL

name: Least developed countries: UN classification

country_code: LDC

value: CC BY-4.0

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.


value: Economy & Growth

value: Financial Sector

country_code: LIC

country_name: Low income


Liechtenstein

iso2Code: LI

value: Europe & Central Asia

iso2code: XD

value: High income

iso2code: XX

value: Not classified

capitalCity: Vaduz

country_code: LIE

country_name: Liechtenstein

value: Annual

value: World Bank staff estimates based on IMF balance of payments data.


Sri Lanka

iso2Code: LK

value: South Asia

iso2code: XN

value: Lower middle income

iso2code: XI

value: IDA

capitalCity: Colombo

country_code: LKA

country_name: Sri Lanka

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).


Lower middle income

value: Aggregates

country_code: LMC

country_name: Lower middle income

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: Personal remittances, paid (current US$)

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


value: World Development Indicators

value: Economy & Growth

Low & middle income

iso2Code: XO

country_code: LMY

country_name: Low & middle income

value: CC BY-4.0

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.


value: Financial Sector

Lesotho

iso2Code: LS

value: Sub-Saharan Africa

value: Sub-Saharan Africa (excluding high income)

capitalCity: Maseru

country_code: LSO

country_name: Lesotho

value: Annual


country_code: LTE

country_name: Late-demographic dividend

value: World Bank staff estimates based on IMF balance of payments data.


Lithuania

iso2Code: LT

value: Europe & Central Asia

value: High income

value: Not classified

capitalCity: Vilnius

country_code: LTU

country_name: Lithuania

value: Sum


Luxembourg

iso2Code: LU

capitalCity: Luxembourg

country_code: LUX

country_name: Luxembourg

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: Personal remittances, paid (current US$)


value: World Development Indicators

Latvia

iso2Code: LV

capitalCity: Riga

country_code: LVA

country_name: Latvia

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


value: Economy & Growth

Macao SAR, China

iso2Code: MO

value: East Asia & Pacific

country_code: MAC

country_name: Macao SAR, China

value: CC BY-4.0

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.


value: Financial Sector

St. Martin (French part)

iso2Code: MF

value: Latin America & Caribbean

capitalCity: Marigot

country_code: MAF

country_name: St. Martin (French part)

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.


Morocco

iso2Code: MA

iso2code: ZQ

value: Middle East & North Africa

iso2code: XQ

value: Middle East & North Africa (excluding high income)

value: Lower middle income

iso2code: XF

value: IBRD

capitalCity: Rabat

country_code: MAR

country_name: Morocco

value: Annual

value: World Bank staff estimates based on IMF balance of payments data.


Monaco

iso2Code: MC

value: Europe & Central Asia

value: High income

value: Not classified

capitalCity: Monaco

country_code: MCO

country_name: Monaco

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: Personal remittances, paid (current US$)


value: World Development Indicators

value: Economy & Growth

Moldova

iso2Code: MD

value: Europe & Central Asia (excluding high income)

iso2code: XT

value: Upper middle income

capitalCity: Chisinau

country_code: MDA

country_name: Moldova

value: CC BY-4.0

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


value: Financial Sector

Madagascar

iso2Code: MG

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XM

value: Low income

value: IDA

capitalCity: Antananarivo

country_code: MDG

country_name: Madagascar

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.

value: Annual


Maldives

iso2Code: MV

value: South Asia

iso2code: XI

capitalCity: Male

country_code: MDV

country_name: Maldives

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: World Bank staff estimates based on IMF balance of payments data.


value: World Development Indicators

value: Economy & Growth

Middle East & North Africa

value: Aggregates

country_code: MEA

country_name: Middle East & North Africa

value: Personal remittances, paid (current US$)


Mexico

iso2Code: MX

iso2code: ZJ

value: Latin America & Caribbean

iso2code: XJ

value: Latin America & Caribbean (excluding high income)

value: Upper middle income

value: IBRD

capitalCity: Mexico City

country_code: MEX

country_name: Mexico

value: CC BY-4.0

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


value: Financial Sector

Marshall Islands

iso2Code: MH

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

value: IDA

capitalCity: Majuro

country_code: MHL

country_name: Marshall Islands

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.

value: Annual


value: World Development Indicators

value: Economy & Growth

Middle income

iso2Code: XP

country_code: MIC

country_name: Middle income

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: World Bank staff estimates based on IMF balance of payments data.


North Macedonia

iso2Code: MK

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

value: Upper middle income

value: IBRD

capitalCity: Skopje

country_code: MKD

country_name: North Macedonia

value: Personal remittances, paid (current US$)


value: Financial Sector

Mali

iso2Code: ML

value: Sub-Saharan Africa

value: Sub-Saharan Africa (excluding high income)

value: Low income

capitalCity: Bamako

country_code: MLI

country_name: Mali

value: CC BY-4.0

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


value: World Development Indicators

value: Economy & Growth

Malta

iso2Code: MT

iso2code: ZQ

value: Middle East & North Africa

iso2code: XD

value: High income

iso2code: XX

value: Not classified

capitalCity: Valletta

country_code: MLT

country_name: Malta

value: Sum

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.

value: Annual


Myanmar

iso2Code: MM

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

iso2code: XN

value: Lower middle income

value: IDA

capitalCity: Naypyidaw

country_code: MMR

country_name: Myanmar

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: Personal remittances, paid (current US$)

value: World Bank staff estimates based on IMF balance of payments data.


value: Financial Sector

iso2Code: XQ

name: Middle East & North Africa (excluding high income)

value: Aggregates

country_code: MNA

value: CC BY-4.0

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


value: World Development Indicators

value: Economy & Growth

Montenegro

iso2Code: ME

value: Europe & Central Asia

value: Europe & Central Asia (excluding high income)

iso2code: XT

value: Upper middle income

iso2code: XF

value: IBRD

capitalCity: Podgorica

country_code: MNE

country_name: Montenegro

value: Sum


Mongolia

iso2Code: MN

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

value: Lower middle income

capitalCity: Ulaanbaatar

country_code: MNG

country_name: Mongolia

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.

value: Annual


value: Financial Sector

Northern Mariana Islands

iso2Code: MP

value: High income

value: Not classified

capitalCity: Saipan

country_code: MNP

country_name: Northern Mariana Islands

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: Personal remittances, paid (current US$)

value: CC BY-4.0

value: World Bank staff estimates based on IMF balance of payments data.


value: World Development Indicators

value: Economy & Growth

Mozambique

iso2Code: MZ

iso2code: ZG

value: Sub-Saharan Africa

iso2code: ZF

value: Sub-Saharan Africa (excluding high income)

iso2code: XM

value: Low income

iso2code: XI

value: IDA

capitalCity: Maputo

country_code: MOZ

country_name: Mozambique

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value: Economic Policy & Debt: Balance of payments: Current account: Transfers

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


Mauritania

iso2Code: MR

value: Lower middle income

capitalCity: Nouakchott

country_code: MRT

country_name: Mauritania

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.

value: Annual


value: Financial Sector

Mauritius

iso2Code: MU

value: Upper middle income

value: IBRD

capitalCity: Port Louis

country_code: MUS

country_name: Mauritius

value:
Movement of people, most often through migration, is a significant part of global integration. Migrants contribute to the economies of both their host country and their country of origin. Yet reliable statistics on migration are difficult to collect and are often incomplete, making international comparisons a challenge.

In most developed countries, refugees are admitted for resettlement and are routinely included in population counts by censuses or population registers. Globally, the number of refugees at end 2010 was 10.55 million, including 597,300 people considered by the United Nations High Commissioner for Refugees (UNHCR) to be in a refugee-like situation; developing countries hosted 8.5 million refugees, or 80 percent of the global refugee population.

Global migration patterns have become increasingly complex in modern times, involving not just refugees, but also millions of economic migrants. But refugees and migrants, even if they often travel in the same way, are fundamentally different, and for that reason are treated very differently under modern international law. Migrants, especially economic migrants, choose to move in order to improve the future prospects of themselves and their families. Refugees have to move if they are to save their lives or preserve their freedom. They have no protection from their own state - indeed it is often their own government that is threatening to persecute them. If other countries do not let them in, and do not help them once they are in, then they may be condemning them to death - or to an intolerable life in the shadows, without sustenance and without rights.

value: Personal remittances, paid (current US$)


value: World Development Indicators

value: Economy & Growth

Malawi

iso2Code: MW

value: Sub-Saharan Africa

capitalCity: Lilongwe

country_code: MWI

country_name: Malawi

value: CC BY-4.0

value: World Bank staff estimates based on IMF balance of payments data.


Malaysia

iso2Code: MY

value: East Asia & Pacific

value: East Asia & Pacific (excluding high income)

capitalCity: Kuala Lumpur

country_code: MYS

country_name: Malaysia

value: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

value: Economic Policy & Debt: Balance of payments: Current account: Transfers


North America

iso2Code: XU

value: Aggregates

country_code: NAC

country_name: North America

value: Sum

value: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

value:
The two main components of personal remittances, "personal transfers" and "compensation of employees", are items in the balance of payments (BPM6) framework. Both of these standard components are recorded in the current account.
"Personal transfers," a new item in the Balance of Payments (BPM6) represents a broader definition of worker remittances. Personal transfers include all current transfers in cash or in kind between resident and nonresident individuals, independent of the source of income of the sender (irrespective of whether the sender receives income from labor, entrepreneurial or property income, social benefits, and any other types of transfers; or disposes assets) and the relationship between the households (irrespective of whether they are related or unrelated individuals).

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Compensation of employees represents remuneration in return for the labor input to the production process contributed by an individual in an employer-employee relationship with the enterprise. Compensation of employees is recorded gross and includes amounts paid by the employee as taxes or for other purposes in the economy where the work is performed. Compensation of employees has three main components: wages and salaries in cash, wages and salaries in kind, and employers' social contributions.


value: Financial Sector

Namibia

value: Sub-Saharan Africa (excluding high income)

value: Upper middle income

capitalCity: Windhoek

country_code: NAM

country_name: Namibia

value:
Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders. The large number of remittance transactions and the multitude of channels pose challenges to the compilation of comprehensive statistics. The small size of individual transactions means that they often go undetected by typical data source systems, although the aggregate level of transactions may be substantial.

Because of difficulties in obtaining data on informal remittance transactions, the remittance transactions undertaken through informal channels are sometimes not well covered in current balance of payments data. As a result, even though direct measurement of remittances - through transactions reporting or surveys - may be considered preferable if feasible, some countries instead combine different sources and estimation methods to achieve better coverage, by using direct measurements where practical and supplemented estimates where they are not. Model-based approaches are used in some countries as they are flexible. Compilers can design models to fill gaps in data sources or to provide global totals.

However, only reliable input data can lead to sound estimates, regardless of the sophistication of an estimation method or econometric model. Indirect data are converted to remittance estimates using a set of assumptions. These assumptions should be plausible, but it is often not possible to test or verify these assumptions and also the results in practice.

value: Annual