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    • {"id":18486,"date":"2019-04-10T13:51:14","date_gmt":"2019-04-10T08:21:14","guid":{"rendered":"https:\/\/www.nepalisansar.com\/?p=18486"},"modified":"2019-04-10T14:08:57","modified_gmt":"2019-04-10T08:38:57","slug":"nepal-4th-in-south-asia-for-remittance-inflows-in-2018","status":"publish","type":"post","link":"https:\/\/www.nepalisansar.com\/business\/nepal-4th-in-south-asia-for-remittance-inflows-in-2018\/","title":{"rendered":"Nepal 4th in South Asia for Remittance Inflows in 2018"},"content":{"rendered":"

    Nepal is back in top news headlines again because of its migrant population!<\/p>\n

    The Himalayan nation featured in the World Bank\u2019s top 20 remittance recipients in 2018, for inflows.<\/p>\n

    According to the World Bank data, Nepal received remittance inflows worth USD 8,064 million in 2018, standing at the top 19th<\/sup> recipient among world nations.<\/p>\n

    The country registered a 16 percent year-on-year rise in remittance inflows in 2018 compared to USD 6,928 million in 2017.<\/p>\n

    Remittances in 2018 accounted for 28.0% of the country\u2019s GDP share in 2018, placing the Himalayan nation in the list of the top-5 recipient smaller economies: Tonga, Kyrgyz Republic, Tajikistan and Haiti, in terms of remittance share in GDP<\/a>.<\/p>\n

    Read:<\/strong> Nepal Tops 2016 Global Ranking For Remittances by GDP<\/a><\/p>\n

    \u201cIn 2018, the top remittance-receiving countries \u2013 in dollar terms \u2013 are projected to be India, China, the Philippines, Mexico, Egypt, and Nigeria (Figure 1.2). As a share of gross domestic product (GDP), the top recipients are smaller countries: Tonga, Kyrgyz Republic, Tajikistan, Nepal, and Haiti,\u201d the World Bank<\/span> said in its report.<\/p><\/blockquote>\n

    Top Remittance Receivers in 2018<\/h4>\n

    \"Top<\/p>\n

    Nepal saw a gradual rise in remittance inflows in the last decade period from 2008-2018 as follows.<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    Year<\/strong><\/td>\nRemittance Flows (in USD Million)<\/strong><\/td>\n<\/tr>\n
    2008<\/td>\n2,727<\/td>\n<\/tr>\n
    2009<\/td>\n2,983<\/td>\n<\/tr>\n
    2010<\/td>\n3,464<\/td>\n<\/tr>\n
    2011<\/td>\n4,217<\/td>\n<\/tr>\n
    2012<\/td>\n4,793<\/td>\n<\/tr>\n
    2013<\/td>\n5,589<\/td>\n<\/tr>\n
    2014<\/td>\n5,889<\/td>\n<\/tr>\n
    2015<\/td>\n6,730<\/td>\n<\/tr>\n
    2016<\/td>\n6,612<\/td>\n<\/tr>\n
    2017<\/td>\n6,928<\/td>\n<\/tr>\n
    2018<\/td>\n8,064<\/td>\n<\/tr>\n
    Remittances as a share of GDP in 2018 (%)<\/strong><\/td>\n28%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    With Nepal in fourth sport, other South Asian nations in the list of remittance inflows include: India (USD 78.6 billion), Pakistan (USD 21 billion), Bangladesh (USD 15.4 billion) and Sri Lanka (USD 7.5 billion).<\/p>\n

    Remittance Inflows to South Asia Grrew in 2018<\/h4>\n

    \"Remittance<\/p>\n

    India stood as the top recipient followed by China, Mexico, The Philippines and Egypt.<\/p>\n

    Overall, the remittance flows to South Asia have seen a 12 percent growth in 2018 much ahead of 7 percent in 2017, totaling to around USD 138 billion.<\/p>\n

    The World Bank report also reported a decline in employment opportunities for South Asian nations in GCC countries in 2017 and 2018.<\/p>\n

    \u201cEspecially in Saudi Arabia, due to nationalization policies, as indicated by lower deployments from India (-12 percent in 2018 Q1\u2013Q3 and -25 percent in 2017), Pakistan (-26 percent during January\u2013August 2018 and 41 percent in 2017), Bangladesh (-25 percent in 2018 Q1\u2013Q3), and Nepal (-5 percent in FY 2016\/17),\u201d the report noted.<\/p><\/blockquote>\n

    Nepal also saw a decline in number of migrant labor permits from 0.40 million in FY 2015\/16 to 0.38 million in FY 2016\/17.<\/p>\n

    \n

    Also Read:<\/strong><\/p>\n