Remittances slowed in 2023 – we need to take note DILIP RATHA JUNE 26, 2024 This page in: English Français Español العربية

https://blogs.worldbank.org/en/peoplemove/remittances-slowed-in-2023---we-need-to-take-note The World Bank’s latest Migration and Development Brief shows that officially recorded remittances to low- and middle-income countries (LMICs) reached an estimated $656 billion in 2023. The true size of remittances, including flows through informal channels, is even larger. That said, the growth rate of remittances in last year was only 0.7%, significantly lower than 10.8% and 8.3% registered in 2021 and 2022, respectively (figure 1). And yet, remittances outpaced FDI and ODA.