India Tops in Receiving Remittances in 2016

Indians working across the globe sent home $62.7 billion last year, making India the top remittance-receiving country surpassing China. The `One Family at a Time' study by the UN International Fund for Agricultural Development said about 200 million migrants globally sent more than $445 million in 2016 as remittances to their families, helping to lift millions out of poverty .

Remittance flows have grown over the last decade at a rate averaging 4.2% annually , from $296 billion in 2007 to $445 billion in 2016.

The study said India was the top receiving country for remittances in 2016 at $62.7 billion, followed by China ($61 billion), the Philippines ($30 billion) and Pakistan ($20 billion). In the decade between 2007 and 2016, India surpassed China to become the top receiving country for remittances.

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