Australia sent over $6.3 billion in remittances in 2022, receiving significantly less at $1.2 billion.
India received the most remittances at $111 billion in 2022, making it a key global recipient.
Compare money transfer services as they often charge lower fees (average 6.2%) than banks (10.8%).
Australia sent $6,350 million in remittances in 2022, while it received just $1,298 million. We've unpacked the most recently available data from the World Bank to get an idea of which countries are sending and receiving the most remittances. Figures are in US dollars.
Key statistics
Global inward remittances amounted to US$831,103 million in 2022.
Australia sent US$6,350 million in remittances in 2022, an increase from US$3,812 million in 2021.
Meanwhile Australia received US$1,298 million in remittances in 2022, an increase from US$936 million in 2021.
India received the most remittances at US$111,222 million, while the United States sent the most at US$79,153 million.
What does remittance mean?
Remittance refers to the transfer of money. In this case, it's about transferring funds from someone in one country to a person in another country. It's particularly important in many developing nations, where international remittances make up a significant portion of the country's GDP. The total value of remittances received around the world has increased significantly over the past 2 decades.
Global remittance inflows (US$ million) over time
Global remittance inflows (US$ million) over time
Migrant remittance inflows (US$ million)
Low-and Middle-Income Countries
World
2000
70734
117547
2001
79690
128647
2002
94554
152486
2003
117934
186660
2004
135885
215981
2005
191499
284061
2006
224581
327331
2007
273325
394733
2008
319666
458583
2009
303531
434515
2010
339002
470037
2011
382188
527309
2012
402615
545825
2013
421240
580561
2014
442064
608328
2015
441421
596214
2016
434910
590439
2017
475165
640304
2018
521550
695443
2019
547554
726936
2020
541662
716885
2021
599342
791114
2022
647193
831103
2023
669300
860263
Remittances to and from Australia
Australia sent a total of $6,350 million in remittances in 2022, which is higher than the $3,812 million sent in 2021 and $4,423 million in 2020.
On the other hand, Australia received a total of $1,298 million remittances in 2022. This is an increase from $936 million in 2021 and $1,197 in 2020.
Annual remittances to and from Australia, in US$ million
Annual remittances to and from Australia, in US$ million
Year
Inward remittances
Outward remittances
2000
518
869
2001
487
855
2002
466
991
2003
652
1381
2004
825
1609
2005
940
1531
2006
1015
2051
2007
1342
2981
2008
1526
3366
2009
1335
3224
2010
1864
4655
2011
2449
6598
2012
2405
7084
2013
2442
7254
2014
2330
6953
2015
2175
6038
2016
2057
6179
2017
2002
6793
2018
1868
7268
2019
1763
7438
2020
1197
4423
2021
936
3812
2022
1298
6350
Countries whose GDPs depend on money transfers
Countries that are classed as "developing nations" saw migrant remittance inflows making up a solid percentage of their GDP in 2022. In countries such as Tajikistan, migrant remittance inflows were responsible for more than half (51%) of 2022 GDP. Rounding out the top 5 countries reliant on migrant remittance inflows were Tonga (44%), Lebanon (36%), Samoa (34%) and Kyrgyz Republic (31%).
Top 10 countries most reliant on migrant remittances
Top 10 countries most reliant on migrant remittances
Country
Remittances as a share of GDP
Tajikistan
51
Tonga
44
Lebanon
36
Samoa
34
Kyrgyz Republic
31
Gambia, The
29
Honduras
27
El Salvador
24
Nepal
23
Jamaica
23
Which country is sending the most money?
Where is all that money coming from? Of all the countries that are sending money overseas, the US sends by far the most offshore, with $79,153 million being sent in 2022.
The United States was followed by Saudi Arabia ($39,349 million), Switzerland ($31,906 million), Germany ($25,599 million) and China ($18,256 million) to round out the top 5 countries sending money abroad.
Top 10 countries sending the most money abroad (US$ million)
Top 10 countries sending the most money abroad (US$ million)
Country
2022
United States of America
79153
Saudi Arabia
39349
Switzerland
31906
Germany
25599
China
18256
Kuwait
17744
Luxembourg
15506
Netherlands
15411
France
14440
Qatar
12286
2022 Global remittance outflows, by country
Rank
Country
US$ in millions
1
United States of America
79153
2
Saudi Arabia
39349
3
Switzerland
31906
4
Germany
25599
5
China
18256
6
Kuwait
17744
7
Luxembourg
15506
8
Netherlands
15411
9
France
14440
10
Qatar
12286
11
Italy
11586
12
Poland
10835
13
United Kingdom
10768
14
India
10089
15
Malaysia
8948
16
Canada
8312
17
Republic of Korea
8301
18
Belgium
7784
19
Thailand
7638
20
Israel
7283
21
Australia
6350
22
Russian Federation
5804
23
Indonesia
4636
24
Japan
4522
25
Norway
4509
26
Czech Republic
3946
27
Denmark
3819
28
Sweden
3668
29
Greece
2937
30
Kazakhstan
2366
31
Brazil
2238
32
Ukraine
2036
33
Hungary
1182
34
Mexico
1131
35
South Africa
1012
36
Finland
994
37
Romania
960
38
Dominican Republic
955
39
Hong Kong, SAR
901
40
New Zealand
890
41
Cyprus
823
42
Azerbaijan
812
43
Turkey
731
44
Mauritius
724
45
Ireland
695
46
Chile
676
47
Latvia
653
48
Malta
642
49
Ecuador
637
50
Uzbekistan
625
51
Armenia
604
52
Croatia
601
53
Serbia
595
54
Argentina
591
55
Lithuania
568
56
Costa Rica
566
57
Maldives
557
58
Angola
518
59
Slovak Republic
517
60
Moldova
484
61
Colombia
419
62
Spain
405
63
Iceland
386
64
Jamaica
363
65
Slovenia
341
66
Honduras
339
67
Bolivia
319
68
Cambodia
302
69
Estonia
294
70
El Salvador
276
71
Sudan
247
72
Belarus
236
73
Tajikistan
224
74
Pakistan
208
75
Philippines
189
76
Bulgaria
188
77
Peru
187
78
Mozambique
179
79
Morocco
153
80
Albania
149
81
Bangladesh
137
82
Zambia
131
83
Mongolia
129
84
Uruguay
127
85
Montenegro
123
86
Aruba
108
87
Suriname
107
88
Bosnia and Herzegovina
102
89
Rwanda
92
90
Nigeria
82
91
Algeria
82
92
Namibia
78
93
Paraguay
65
94
Kosovo
61
95
Solomon Islands
59
96
Belize
41
97
Nepal
40
98
Bhutan
34
99
Cape Verde
30
100
Tonga
28
101
Samoa
27
102
North Macedonia
22
103
Fiji
14
104
West Bank and Gaza
9
105
Nicaragua
2
Which country is receiving the most money?
As far as where that money is being sent, India tops the list for countries receiving remittances at $111,222 million.
India was followed by Mexico ($61,100 million), China ($51,000 million), the Philippines ($38,049 million) and France ($30,044 million) to round out the top 5 countries receiving money from abroad.
Top 10 countries receiving the most money abroad (US$ million)
Top 10 countries receiving the most money abroad (US$ million)
Country
2022
India
111222
Mexico
61100
China
51000
Philippines
38049
France
30044
Pakistan
29871
Arab Republic of Egypt
28333
Bangladesh
21504
Nigeria
20128
Germany
19288
2022 Global inward remittances, by country
Rank
Country
US$ in millions
1
India
111222
2
Mexico
61100
3
China
51000
4
Philippines
38049
5
France
30044
6
Pakistan
29871
7
Arab Republic of Egypt
28333
8
Bangladesh
21504
9
Nigeria
20128
10
Germany
19288
11
Guatemala
18177
12
Ukraine
17093
13
Uzbekistan
16736
14
Belgium
13438
15
Vietnam
13151
16
Morocco
11168
17
Italy
10530
18
Portugal
10296
19
Dominican Republic
10278
20
Indonesia
9960
21
Colombia
9440
22
Thailand
9335
23
Nepal
9293
24
Spain
9254
25
Romania
8660
26
Honduras
8485
27
Republic of Korea
7825
28
El Salvador
7693
29
Russian Federation
7500
30
United States of America
7079
31
Lebanon
6449
32
Poland
6399
33
Israel
6143
34
Serbia
5601
35
Croatia
5392
36
Japan
5384
37
Tajikistan
5346
38
Jordan
5000
39
Brazil
4969
40
Ecuador
4748
41
Ghana
4664
42
Haiti
4532
43
Czech Republic
4153
44
Kenya
4091
45
West Bank and Gaza
4079
46
Azerbaijan
3950
47
United Kingdom
3877
48
Georgia
3854
49
Sri Lanka
3818
50
Republic of Yemen
3771
51
Peru
3708
52
Jamaica
3688
53
Hungary
3589
54
Sweden
3521
55
Nicaragua
3227
56
Tunisia
3092
57
Zimbabwe
3085
58
Kyrgyz Republic
3051
59
Austria
2888
60
Switzerland
2620
61
Cambodia
2616
62
Senegal
2500
63
Bosnia and Herzegovina
2466
64
Netherlands
2370
65
Luxembourg
2208
66
Slovak Republic
2147
67
Moldova
2037
68
Armenia
2035
69
Bulgaria
2033
70
Myanmar
1900
71
Bermuda
1800
72
Algeria
1760
73
Albania
1745
74
Somalia
1735
75
Democratic Republic of Congo
1664
76
Malaysia
1640
77
Kosovo
1613
78
Sudan
1499
79
Belarus
1465
80
Bolivia
1459
81
Latvia
1333
82
Australia
1298
83
Uganda
1270
84
Argentina
1258
85
Denmark
1250
86
South Sudan
1187
87
Mali
1131
88
Qatar
1032
89
South Africa
873
90
Canada
860
91
Montenegro
830
92
Lithuania
736
93
Tanzania
698
94
Turkey
694
95
Slovenia
688
96
New Zealand
677
97
Togo
650
98
Norway
629
99
Iraq
624
100
Costa Rica
621
101
New Caledonia
621
102
The Gambia
615
103
Greece
601
104
Finland
594
105
Paraguay
592
106
Burkina Faso
589
107
French Polynesia
582
108
Lesotho
576
109
Guyana
540
110
Guinea
538
111
Cyprus
520
112
Panama
519
113
Niger
500
114
Kazakhstan
481
115
Rwanda
474
116
Estonia
470
117
Fiji
459
118
North Macedonia
456
119
Madagascar
440
120
Ireland
436
121
Hong Kong, SAR
414
122
Mongolia
399
123
Cameroon
365
124
Côte d'Ivoire
360
125
Afghanistan
350
126
Liberia
346
127
Ethiopia
327
128
Cape Verde
313
129
Mozambique
303
130
Saudi Arabia
287
131
Samoa
280
132
Mauritius
274
133
Comoros
260
134
Malawi
259
135
Zambia
243
136
Sierra Leone
232
137
Benin
231
138
Malta
226
139
Tonga
217
140
Trinidad and Tobago
202
141
Lao People's Democratic Republic
198
142
Iceland
193
143
Timor-Leste
185
144
Guinea-Bissau
178
145
Faeroe Islands
158
146
Vanuatu
150
147
Suriname
148
148
Belize
142
149
Curacao
125
150
Uruguay
125
151
Eswatini
120
152
Bhutan
96
153
Barbados
85
154
Solomon Islands
81
155
Saint Vincent and the Grenadines
70
156
Chile
69
157
Grenada
69
158
Botswana
58
159
Djibouti
55
160
Saint Lucia
55
161
Namibia
54
162
Dominica
52
163
Mauritania
50
164
Sint Maarten (Dutch part)
49
165
Burundi
48
166
Oman
39
167
Aruba
38
168
Antigua and Barbuda
35
169
Saint Kitts and Nevis
33
170
Marshall Islands
30
171
Federated States of Micronesia
23
172
Kuwait
22
173
San Marino
21
174
Gabon
18
175
Macau, SAR
17
176
Kiribati
15
177
Angola
14
178
Seychelles
11
179
Cayman Islands
9
180
Sao Tome and Principe
8
181
Maldives
5
182
Papua New Guinea
3
183
Tuvalu
3
184
Palau
2
185
Brunei Darussalam
1
186
Libya
0
187
Singapore
0
188
Syrian Arab Republic
0
189
Turkmenistan
0
190
Turks and Caicos Islands
0
191
R. B. de Venezuela
0
Which countries are receiving more than they're sending?
With $111,222 million received in remittances (inward) and just $10,089 million sent (outward), India has the top net remittance of $101,133 million in 2022. Rounding off the top 5 markets are the Mexico ($59,969 million), Philippines ($37,860 million), China ($32,744 million) and Pakistan ($29,663 million).
On the other end of the spectrum is the United States, with a 2022 net remittance of -$72,074 million – meaning they're sending more money in remittances than they received. The United States is followed by Saudi Arabia (-$39,062 million), Switzerland (-$29,286 million), Kuwait (-$17,722) and Luxembourg (-$13,298 million).
Top 10 countries in terms of net inward remittances
Top 10 countries in terms of net inward remittances
Country
Inward
Outward
India
111,222
10,089
Mexico
61,100
1,131
Philippines
38,049
189
China
51,000
18,256
Pakistan
29,871
208
Egypt, Arab Rep.
28,333
Bangladesh
21,504
137
Nigeria
20,128
82
Guatemala
18,177
Uzbekistan
16,736
625
2022 Net inward remittances, by country
Country
Inward
Outward
Net inward remittance
India
$111,222
$10,089
$101,133
Mexico
$61,100
$1,131
$59,969
Philippines
$38,049
$189
$37,860
China
$51,000
$18,256
$32,744
Pakistan
$29,871
$208
$29,663
Egypt, Arab Rep.
$28,333
$0
$28,333
Bangladesh
$21,504
$137
$21,367
Nigeria
$20,128
$82
$20,045
Guatemala
$18,177
$0
$18,177
Uzbekistan
$16,736
$625
$16,110
France
$30,044
$14,440
$15,604
Ukraine
$17,093
$2,036
$15,057
Vietnam
$13,151
$0
$13,151
Morocco
$11,168
$153
$11,015
Portugal
$10,296
$0
$10,296
Dominican Republic
$10,278
$955
$9,324
Nepal
$9,293
$40
$9,253
Colombia
$9,440
$419
$9,021
Spain
$9,254
$405
$8,848
Honduras
$8,485
$339
$8,147
Romania
$8,660
$960
$7,700
El Salvador
$7,693
$276
$7,417
Lebanon
$6,449
$0
$6,449
Belgium
$13,438
$7,784
$5,654
Indonesia
$9,960
$4,636
$5,324
Tajikistan
$5,346
$224
$5,122
Serbia
$5,601
$595
$5,006
Jordan
$5,000
$0
$5,000
Croatia
$5,392
$601
$4,791
Ghana
$4,664
$0
$4,664
Haiti
$4,532
$0
$4,532
Ecuador
$4,748
$637
$4,111
Kenya
$4,091
$0
$4,091
West Bank and Gaza
$4,079
$9
$4,070
Georgia
$3,854
$0
$3,854
Sri Lanka
$3,818
$0
$3,818
Yemen, Rep.
$3,771
$0
$3,771
Peru
$3,708
$187
$3,521
Jamaica
$3,688
$363
$3,324
Nicaragua
$3,227
$2
$3,226
Azerbaijan
$3,950
$812
$3,138
Tunisia
$3,092
$0
$3,092
Zimbabwe
$3,085
$0
$3,085
Kyrgyz Republic
$3,051
$0
$3,051
Austria
$2,888
$0
$2,888
Brazil
$4,969
$2,238
$2,731
Senegal
$2,500
$0
$2,500
Hungary
$3,589
$1,182
$2,408
Bosnia and Herzegovina
$2,466
$102
$2,365
Cambodia
$2,616
$302
$2,314
Myanmar
$1,900
$0
$1,900
Bulgaria
$2,033
$188
$1,845
Bermuda
$1,800
$0
$1,800
Somalia
$1,735
$0
$1,735
Thailand
$9,335
$7,638
$1,698
Russian Federation
$7,500
$5,804
$1,696
Algeria
$1,760
$82
$1,678
Congo, Dem. Rep.
$1,664
$0
$1,664
Slovak Republic
$2,147
$517
$1,629
Albania
$1,745
$149
$1,596
Moldova
$2,037
$484
$1,553
Kosovo
$1,613
$61
$1,552
Armenia
$2,035
$604
$1,430
Uganda
$1,270
$0
$1,270
Sudan
$1,499
$247
$1,252
Belarus
$1,465
$236
$1,229
South Sudan
$1,187
$0
$1,187
Bolivia
$1,459
$319
$1,139
Mali
$1,131
$0
$1,131
Japan
$5,384
$4,522
$862
Montenegro
$830
$123
$707
Tanzania
$698
$0
$698
Latvia
$1,333
$653
$680
Argentina
$1,258
$591
$668
Togo
$650
$0
$650
Iraq
$624
$0
$624
New Caledonia
$621
$0
$621
Gambia, The
$615
$0
$615
Burkina Faso
$589
$0
$589
French Polynesia
$582
$0
$582
Lesotho
$576
$0
$576
Guyana
$540
$0
$540
Guinea
$538
$0
$538
Paraguay
$592
$65
$528
Panama
$519
$0
$519
Niger
$500
$0
$500
Fiji
$459
$14
$445
Madagascar
$440
$0
$440
North Macedonia
$456
$22
$434
Rwanda
$474
$92
$382
Cameroon
$365
$0
$365
Cote d'Ivoire
$360
$0
$360
Afghanistan
$350
$0
$350
Slovenia
$688
$341
$347
Liberia
$346
$0
$346
Ethiopia
$327
$0
$327
Cabo Verde
$313
$30
$284
Mongolia
$399
$129
$270
Comoros
$260
$0
$260
Malawi
$259
$0
$259
Samoa
$280
$27
$253
Sierra Leone
$232
$0
$232
Benin
$231
$0
$231
Czech Republic
$4,153
$3,946
$207
Trinidad and Tobago
$202
$0
$202
Lao PDR
$198
$0
$198
Tonga
$217
$28
$189
Timor-Leste
$185
$0
$185
Guinea-Bissau
$178
$0
$178
Estonia
$470
$294
$176
Lithuania
$736
$568
$168
Faeroe Islands
$158
$0
$158
Vanuatu
$150
$0
$150
Curacao
$125
$0
$125
Mozambique
$303
$179
$124
Eswatini
$120
$0
$120
Zambia
$243
$131
$112
Belize
$142
$41
$101
Barbados
$85
$0
$85
St. Vincent and the Grenadines
$70
$0
$70
Grenada
$69
$0
$69
Bhutan
$96
$34
$62
Botswana
$58
$0
$58
Costa Rica
$621
$566
$55
Djibouti
$55
$0
$55
St. Lucia
$55
$0
$55
Dominica
$52
$0
$52
Mauritania
$50
$0
$50
Sint Maarten (Dutch part)
$49
$0
$49
Burundi
$48
$0
$48
Suriname
$148
$107
$41
Oman
$39
$0
$39
Antigua and Barbuda
$35
$0
$35
St. Kitts and Nevis
$33
$0
$33
Marshall Islands
$30
$0
$30
Micronesia, Fed. Sts.
$23
$0
$23
Solomon Islands
$81
$59
$22
San Marino
$21
$0
$21
Gabon
$18
$0
$18
Macao SAR, China
$17
$0
$17
Kiribati
$15
$0
$15
Seychelles
$11
$0
$11
Cayman Islands
$9
$0
$9
Sao Tome and Principe
$8
$0
$8
Papua New Guinea
$3
$0
$3
Tuvalu
$3
$0
$3
Palau
$2
$0
$2
Brunei Darussalam
$1
$0
$1
American Samoa
$0
$0
$0
Andorra
$0
$0
$0
Bahamas, The
$0
$0
$0
Bahrain
$0
$0
$0
Central African Republic
$0
$0
$0
Chad
$0
$0
$0
Channel Islands
$0
$0
$0
Congo, Rep.
$0
$0
$0
Cuba
$0
$0
$0
Equatorial Guinea
$0
$0
$0
Eritrea
$0
$0
$0
Greenland
$0
$0
$0
Guam
$0
$0
$0
Iran, Islamic Rep.
$0
$0
$0
Isle of Man
$0
$0
$0
Korea, Dem. Rep.
$0
$0
$0
Libya
$0
$0
$0
Liechtenstein
$0
$0
$0
Monaco
$0
$0
$0
Northern Mariana Islands
$0
$0
$0
Puerto Rico
$0
$0
$0
Singapore
$0
$0
$0
St. Martin (French part)
$0
$0
$0
Syrian Arab Republic
$0
$0
$0
Turkmenistan
$0
$0
$0
Turks and Caicos Islands
$0
$0
$0
United Arab Emirates
$0
$0
$0
Venezuela, RB
$0
$0
$0
Virgin Islands (U.S.)
$0
$0
$0
Uruguay
$125
$127
-$2
Namibia
$54
$78
-$24
Türkiye, Rep. of
$694
$731
-$37
Aruba
$38
$108
-$70
South Africa
$873
$1,012
-$139
Sweden
$3,521
$3,668
-$147
Iceland
$193
$386
-$193
New Zealand
$677
$890
-$213
Ireland
$436
$695
-$259
Cyprus
$520
$823
-$303
Finland
$594
$994
-$399
Malta
$226
$642
-$416
Mauritius
$274
$724
-$450
Korea, Rep.
$7,825
$8,301
-$476
Hong Kong SAR, China
$414
$901
-$486
Angola
$14
$518
-$504
Maldives
$5
$557
-$552
Chile
$69
$676
-$606
Italy
$10,530
$11,586
-$1,057
Israel
$6,143
$7,283
-$1,139
Kazakhstan
$481
$2,366
-$1,885
Greece
$601
$2,937
-$2,337
Denmark
$1,250
$3,819
-$2,569
Norway
$629
$4,509
-$3,881
Poland
$6,399
$10,835
-$4,436
Australia
$1,298
$6,350
-$5,052
Germany
$19,288
$25,599
-$6,310
United Kingdom
$3,877
$10,768
-$6,890
Malaysia
$1,640
$8,948
-$7,308
Canada
$860
$8,312
-$7,452
Qatar
$1,032
$12,286
-$11,254
Netherlands
$2,370
$15,411
-$13,041
Luxembourg
$2,208
$15,506
-$13,298
Kuwait
$22
$17,744
-$17,722
Switzerland
$2,620
$31,906
-$29,286
Saudi Arabia
$287
$39,349
-$39,062
United States
$7,079
$79,153
-$72,074
What are the remittance fees around the world?
With such an enormous amount of money being moved across borders, what is the cost of sending money overseas? The fees that most providers charge include exchange rate margins as well as a transfer fee.
The global average rate for remittances is 7.14%*, but this varies by country and method of payment. Banks are by far the most expensive method to remit money, with fees averaging 10.8%. Money transfer operators charge an average fee of 6.2%, while post offices charge the least at 5.5%. However, this is just an average and the number can vary. Make sure to compare what options are available to you before diving in.
The map below shows the average rate of remittance fees globally and is sortable by the year. In 2017, the most expensive countries included Angola at 24% and Nigeria at 25%.
*Average remittance fees around the world were calculated through the analysis of multiple US$200 transactions made worldwide. Data comes from the KNOMAD/World Bank as of June 2023.
Richard Laycock is Finder’s insights editor after spending the last five years writing and editing articles about insurance. His musings can be found across the web including on MoneyMag, Yahoo Finance and Travel Weekly. Richard studied Media at Macquarie University and The Missouri School of Journalism and has a Tier 1 Certification in General Advice for Life Insurance.
See full bio
Patricia Cruz is a public relations professional at Finder. She has a Bachelor degree in Organizational Communication from the University of the Philippines Manila.
See full bio
To find the best rate for your next money transfer, check out our comparison of the fees, exchange rates and transfer speeds of Western Union and MoneyGram.
If you're looking to send money overseas, check out our review of WorldRemit.
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