India is expected to retain it position as the top remittances receiving country, with its diaspora set to pump in a whopping $65 billion in the year 2017, the World Bank said today.
Ahead of the annual meeting of the International Monetary Fund and the World Bank, a report issued by the global lender said that remittances, which include flows to high-income countries, are projected to grow by 3.9 per cent to $596 billion.
After India the other top five remittances receiving countries are China ($61 billion), the Philippines ($33 billion), Mexico ($31 billion), and Nigeria ($22 billion).
However, as a share of gross domestic product (GDP) for 2017, the top five recipients are smaller countries.
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