Remittance payments hit record in 2017, Uganda at $1.3 billion
April 24, 2018 - A World Bank report released in April shows that payments from immigrants back to their home countries rebounded to reach a new record in 2017 despite an increase in costs of transferring funds.
Uganda's remittance inflows improved from $1.1 billion to $1.3 billion, with Kenya top in the region at $2 billion. Tanzania are at $400m and Rwanda $181m.
Communities in the US, Canada and the UK have previously been the source of most remittances, but in the last decade many Ugandans have also headed to the Middle East and it is bringing in significant numbers.
Remittance inflows improved in all regions, with the top remittance recipients being India with $69 billion, followed by China ($64 billion), the Philippines ($33 billion), Mexico ($31 billion), Nigeria ($22 billion), and Egypt ($20 billion).
Remittances to Sub-Saharan Africa accelerated 11.4 percent to $38 billion in 2017, supported by improving economic growth in advanced economies and higher oil prices benefiting regional economies.
The largest remittance recipients were Nigeria ($21.9 billion), Senegal ($2.2 billion), and Ghana ($2.2 billion).
The region is host to several countries where remittances are a significant share of gross domestic product, including Liberia (27 percent), The Gambia (21 percent), and Comoros (21 percent). In 2018, remittances to the region are expected to grow 7 percent to $41 billion.
AFP reported the bank saying that the stronger-than-expected recovery in remittances -- payments that are key to supporting the economies of many poor countries -- was driven by growth in Europe, Russia and the United States.
"The global average cost of sending $200 was 7.1 percent in the first quarter of 2018, and sub-Saharan Africa remains the most expensive place to send money to, where the average cost is 9.4 percent," AFP reported.
"The World Bank Group is mobilizing financial resources and knowledge on migration to support migrants and countries with the aim of reducing poverty and sharing prosperity. Our focus is on addressing the fundamental drivers of migration and supporting the migration-related Sustainable Development Goals and the Global Compact on Migration,” said Michal Rutkowski, Senior Director of the Social Protection and Jobs Global Practice at the World Bank.
(Source: World Bank staff calculation based on data from IMF Balance of Payments Statistics database and data releases from central banks, national statistical agencies, and World Bank country desks.)
| Migrant remittance inflows (US$ million) | 2014 | 2015 | 2016 | 2017 |
| Afghanistan | 268 | 301 | 387 | 410 |
| Albania | 1,421 | 1,291 | 1,306 | 1,382 |
| Algeria | 2,000 | 2,000 | 2,000 | 2,093 |
| American Samoa | .. | .. | .. | .. |
| Andorra | .. | .. | .. | .. |
| Angola | 31 | 11 | 4 | 4 |
| Antigua and Barbuda | 29 | 29 | 29 | 31 |
| Argentina | 505 | 494 | 539 | 688 |
| Armenia | 2,079 | 1,491 | 1,382 | 1,539 |
| Aruba | 7 | 8 | 7 | 8 |
| Australia | 2,258 | 2,141 | 2,051 | 1,941 |
| Austria | 3,239 | 2,843 | 2,909 | 2,934 |
| Azerbaijan | 1,846 | 1,270 | 643 | 1,050 |
| Bahamas | .. | .. | .. | .. |
| Bahrain | .. | .. | .. | .. |
| Bangladesh | 14,988 | 15,296 | 13,544 | 13,469 |
| Barbados | 108 | 108 | 108 | 112 |
| Belarus | 1,231 | 932 | 961 | 1,200 |
| Belgium | 11,427 | 9,873 | 10,126 | 10,273 |
| Belize | 80 | 85 | 97 | 89 |
| Benin | 304 | 214 | 222 | 266 |
| Bermuda | 1,336 | 1,445 | 1,430 | 1,478 |
| Bhutan | 14 | 20 | 34 | 40 |
| Bolivia | 1,177 | 1,191 | 1,217 | 1,341 |
| Bosnia & Herzegovina | 2,107 | 1,801 | 1,846 | 2,010 |
| Botswana | 46 | 30 | 25 | 20 |
| Brazil | 2,648 | 2,897 | 2,740 | 2,699 |
| Brunei Darussalam | .. | .. | .. | - |
| Bulgaria | 1,685 | 1,495 | 1,666 | 2,224 |
| Burkina Faso | 396 | 385 | 397 | 444 |
| Burundi | 56 | 51 | 31 | 34 |
| Cabo Verde | 197 | 201 | 212 | 222 |
| Cambodia | 377 | 400 | 371 | 386 |
| Cameroon | 283 | 242 | 269 | 278 |
| Canada | 1,350 | 1,274 | 1,290 | 1,340 |
| Cayman Islands | .. | .. | .. | .. |
| Central African Republic | .. | .. | .. | .. |
| Chad | .. | .. | .. | .. |
| Channel Islands | .. | .. | .. | .. |
| Chile | 106 | 104 | 104 | 104 |
| China | 62,332 | 63,938 | 61,000 | 63,860 |
| Colombia | 4,166 | 4,680 | 4,903 | 5,636 |
| Comoros | 126 | 129 | 131 | 138 |
| Congo, Dem. Rep. | 22 | 142 | 16 | 17 |
| Congo, Rep. | .. | .. | .. | .. |
| Costa Rica | 594 | 552 | 545 | 562 |
| Cote d'Ivoire | 387 | 336 | 336 | 379 |
| Croatia | 2,149 | 2,104 | 2,190 | 2,307 |
| Cuba | .. | .. | .. | .. |
| Curacao | 143 | 142 | 148 | 160 |
| Cyprus | 267 | 254 | 327 | 335 |
| Czech Republic | 2,628 | 2,675 | 3,126 | 3,658 |
| Denmark | 1,483 | 1,258 | 1,252 | 1,344 |
| Djibouti | 36 | 63 | 58 | 62 |
| Dominica | 50 | 56 | 57 | 59 |
| Dominican Republic | 4,810 | 5,196 | 5,509 | 6,191 |
| Ecuador | 2,472 | 2,388 | 2,612 | 2,848 |
| Egypt, Arab Rep. | 19,570 | 18,325 | 16,590 | 19,983 |
| El Salvador | 4,154 | 4,288 | 4,594 | 5,051 |
| Equatorial Guinea | .. | .. | .. | .. |
| Eritrea | .. | .. | .. | .. |
| Estonia | 544 | 456 | 479 | 559 |
| Ethiopia | 1,796 | 1,087 | 772 | 816 |
| Faeroe Islands | 158 | 158 | 158 | 168 |
| Fiji | 221 | 251 | 80 | 86 |
| Finland | 907 | 806 | 804 | 821 |
| France | 25,351 | 23,766 | 24,373 | 25,372 |
| French Polynesia | 660 | 564 | 564 | 589 |
| Gabon | .. | .. | .. | .. |
| Gambia, The | 138 | 136 | 207 | 216 |
| Georgia | 1,986 | 1,459 | 1,521 | 1,794 |
| Germany | 17,365 | 16,133 | 16,683 | 16,833 |
| Ghana | 2,008 | 2,100 | 2,100 | 2,190 |
| Greece | 735 | 429 | 331 | 319 |
| Greenland | .. | .. | .. | .. |
| Grenada | 41 | 43 | 1 | 1 |
| Guam | .. | .. | .. | .. |
| Guatemala | 5,838 | 6,573 | 7,471 | 8,540 |
| Guinea | 121 | 131 | 52 | 55 |
| Guinea-Bissau | 92 | 85 | 85 | 104 |
| Guyana | 330 | 294 | 265 | 275 |
| Haiti | 1,977 | 2,196 | 2,359 | 2,459 |
| Honduras | 3,370 | 3,666 | 3,864 | 4,322 |
| Hong Kong SAR, China | 372 | 387 | 399 | 430 |
| Hungary | 4,768 | 4,459 | 4,660 | 4,692 |
| Iceland | 212 | 209 | 201 | 172 |
| India | 70,389 | 68,910 | 62,744 | 68,968 |
| Indonesia | 8,551 | 9,659 | 8,891 | 8,997 |
| Iran, Islamic Rep. | 1,330 | 1,330 | 1,330 | 1,379 |
| Iraq | 729 | 1,004 | 986 | 1,035 |
| Ireland | 719 | 603 | 594 | 608 |
| Isle of Man | .. | .. | .. | .. |
| Israel | 859 | 853 | 963 | 990 |
| Italy | 10,087 | 9,517 | 9,537 | 9,287 |
| Jamaica | 2,269 | 2,361 | 2,433 | 2,522 |
| Japan | 3,734 | 3,325 | 3,819 | 4,578 |
| Jordan | 6,370 | 5,348 | 4,375 | 4,418 |
| Kazakhstan | 229 | 194 | 275 | 355 |
| Kenya | 1,441 | 1,569 | 1,745 | 1,970 |
| Kiribati | 17 | 16 | 17 | 18 |
| Korea, Dem. Rep. | .. | .. | .. | .. |
| Korea, Rep. | 6,551 | 6,444 | 6,504 | 6,332 |
| Kosovo | 1,099 | 971 | 986 | 1,115 |
| Kuwait | 4 | 34 | 4 | 4 |
| Kyrgyz Republic | 2,243 | 1,688 | 1,995 | 2,486 |
| Lao PDR | 40 | 93 | 116 | 124 |
| Latvia | 1,543 | 1,327 | 1,226 | 1,090 |
| Lebanon | 7,191 | 7,481 | 7,606 | 7,955 |
| Lesotho | 393 | 371 | 344 | 415 |
| Liberia | 506 | 641 | 549 | 580 |
| Libya | .. | .. | .. | .. |
| Liechtenstein | .. | .. | .. | .. |
| Lithuania | 2,113 | 1,372 | 1,280 | 1,302 |
| Luxembourg | 1,862 | 1,632 | 1,717 | 1,746 |
| Macao SAR, China | 37 | 40 | 28 | 29 |
| Macedonia, FYR | 367 | 307 | 291 | 314 |
| Madagascar | 286 | 272 | 250 | 262 |
| Malawi | 38 | 41 | 34 | 38 |
| Malaysia | 1,580 | 1,644 | 1,585 | 1,634 |
| Maldives | 3 | 4 | 4 | 4 |
| Mali | 920 | 920 | 920 | 1,040 |
| Malta | 253 | 226 | 221 | 215 |
| Marshall Islands | 26 | 27 | 28 | 29 |
| Mauritania | .. | .. | .. | .. |
| Mauritius | 249 | 249 | 249 | 262 |
| Mexico | 24,802 | 26,233 | 28,691 | 30,600 |
| Micronesia, Fed. Sts. | 23 | 23 | 23 | 24 |
| Moldova | 2,076 | 1,540 | 1,464 | 1,640 |
| Monaco | .. | .. | .. | .. |
| Mongolia | 255 | 261 | 260 | 269 |
| Montenegro | 431 | 381 | 396 | 426 |
| Morocco | 7,736 | 6,904 | 7,088 | 7,467 |
| Mozambique | 155 | 143 | 93 | 51 |
| Myanmar | 279 | 387 | 682 | 723 |
| Namibia | 81 | 47 | 66 | 43 |
| Nepal | 5,889 | 6,730 | 6,612 | 6,947 |
| Netherlands | 1,482 | 1,312 | 1,335 | 1,406 |
| New Caledonia | 721 | 613 | 613 | 642 |
| New Zealand | 305 | 285 | 274 | 297 |
| Nicaragua | 1,140 | 1,198 | 1,268 | 1,395 |
| Niger | 219 | 172 | 172 | 198 |
| Nigeria | 20,829 | 21,060 | 19,636 | 21,967 |
| Northern M Islands | .. | .. | .. | .. |
| Norway | 760 | 609 | 594 | 614 |
| Oman | 39 | 39 | 39 | 40 |
| Pakistan | 17,244 | 19,306 | 19,761 | 19,665 |
| Palau | 2 | 2 | 2 | 2 |
| Panama | 756 | 554 | 502 | 533 |
| Papua New Guinea | 10 | 10 | 3 | 3 |
| Paraguay | 507 | 554 | 657 | 732 |
| Peru | 2,637 | 2,725 | 2,884 | 3,039 |
| Philippines | 28,691 | 29,799 | 31,145 | 32,808 |
| Poland | 7,409 | 6,783 | 6,712 | 6,805 |
| Portugal | 4,446 | 4,363 | 4,378 | 4,811 |
| Puerto Rico | .. | .. | .. | .. |
| Qatar | 499 | 437 | 379 | 668 |
| Romania | 3,381 | 3,085 | 3,489 | 4,944 |
| Russian Federation | 7,777 | 6,903 | 6,678 | 8,026 |
| Rwanda | 184 | 159 | 173 | 181 |
| Samoa | 158 | 144 | 136 | 143 |
| San Marino | .. | .. | .. | .. |
| Sao Tome and Principe | 27 | 20 | 18 | 19 |
| Saudi Arabia | 273 | 295 | 308 | 287 |
| Senegal | 1,929 | 1,929 | 1,929 | 2,238 |
| Serbia | 3,696 | 3,371 | 3,205 | 3,588 |
| Seychelles | 15 | 18 | 22 | 24 |
| Sierra Leone | 62 | 48 | 47 | 49 |
| Singapore | .. | .. | .. | .. |
| Sint Maarten (Dutch part) | 62 | 55 | 61 | 64 |
| Slovak Republic | 2,395 | 2,138 | 2,119 | 2,100 |
| Slovenia | 369 | 423 | 364 | 406 |
| Solomon Islands | 16 | 19 | 20 | 20 |
| Somalia | .. | .. | .. | .. |
| South Africa | 913 | 825 | 755 | 898 |
| South Sudan | .. | .. | .. | .. |
| Spain | 10,720 | 10,281 | 10,281 | 10,692 |
| Sri Lanka | 7,036 | 7,000 | 7,257 | 7,190 |
| St. Kitts and Nevis | 20 | 20 | 10 | 11 |
| St. Lucia | 32 | 32 | 32 | 32 |
| St. Martin (French part) | .. | .. | .. | .. |
| St. Vincent and the Grenadines | 44 | 42 | 42 | 42 |
| Sudan | 507 | 151 | 153 | 177 |
| Suriname | 9 | 7 | 7 | 7 |
| Swaziland | 96 | 96 | 98 | 114 |
| Sweden | 4,558 | 3,364 | 2,855 | 2,819 |
| Switzerland | 2,406 | 2,517 | 2,497 | 2,488 |
| Syrian Arab Republic | 1,623 | 1,623 | 1,623 | 1,623 |
| Tajikistan | 3,384 | 2,259 | 1,867 | 2,220 |
| Tanzania | 389 | 388 | 411 | 435 |
| Thailand | 6,524 | 5,895 | 6,270 | 6,729 |
| Timor-Leste | 44 | 62 | 80 | 85 |
| Togo | 427 | 364 | 364 | 402 |
| Tonga | 129 | 138 | 138 | 146 |
| Trinidad and Tobago | 136 | 153 | 144 | 150 |
| Tunisia | 2,347 | 1,971 | 1,821 | 1,903 |
| Turkey | 1,739 | 1,395 | 1,186 | 1,045 |
| Turkmenistan | 30 | 16 | 9 | 10 |
| Turks and Caicos Islands | .. | .. | .. | .. |
| Tuvalu | 4 | 4 | 4 | 4 |
| Uganda | 888 | 902 | 1,146 | 1,375 |
| Ukraine | 7,354 | 5,845 | 6,146 | 7,895 |
| United Arab Emirates | .. | .. | .. | .. |
| United Kingdom | 4,936 | 5,003 | 4,582 | 4,374 |
| United States | 6,503 | 6,562 | 6,547 | 6,621 |
| Uruguay | 92 | 85 | 85 | 100 |
| Uzbekistan | 5,828 | 3,062 | 2,479 | 2,839 |
| Vanuatu | 28 | 24 | 19 | 19 |
| Venezuela, RB | 128 | 161 | 279 | 293 |
| Vietnam | 12,000 | 13,200 | 11,880 | 13,781 |
| Virgin Islands (U.S.) | .. | .. | .. | .. |
| West Bank and Gaza | 1,805 | 1,826 | 1,957 | 2,034 |
| Yemen, Rep. | 3,351 | 3,351 | 3,351 | 3,351 |
| Zambia | 58 | 47 | 38 | 42 |
| Zimbabwe | .. | .. | .. | .. |
| World | 597,859 | 582,053 | 573,131 | 613,466 |
