Statistics on Remittances

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International development aid isn’t only the business of states and international institutions. Remittances are a large part of this aid. Remittances are money sent back home by migrant workers. Sometimes these amounts are more important than foreign aid and some developing countries are heavily dependent on them in the sense that remittances represent a large share of their national income or GDP.

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As seen from the following graph, this kind of informal aid has become even more important than the formal, government sponsored or international development aid:

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