International transactions in remittances

From 2001 to 2007, remittance receipts reported in the IMF's Balance of payments statistics yearbook (measured as global receipts of "workers' remittances" and "compensation of employees") more than doubled to US$336 billion. This sharp increase is linked to rising migration and labor mobility, more liberal and competitive financial intermediaries, and improved data recording. For some countries, receipts from remittances exceed receipts from the export of goods and services and from financial inflows on foreign direct investment. Despite the high level of interest in remittances, evidence suggests that data on remittances are less reliable than are data on many other items in the balance of payments accounts. Emerging from the January 2005 World Bank/IMF meeting was a consensus that a process for improving data on remittances required two steps: first, simplifying, clarifying, and expanding the definitions of remittance-related items to meet the needs of data users; second, developing practical compilation guidance to support compilers. The purpose of this publication is to promote lasting improvements in remittances data.--Publisher's description.

שנה

2009

שפה

English

הוצאה

International Monetary Fund

מהדורות

1

עמודים

84

ISBN

9781589068254

מקור הנתונים: Wikidata