What does remittances mean?
Definitions for remittances
re·mit·tances
This dictionary definitions page includes all the possible meanings, example usage and translations of the word remittances.
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Wikipedia
remittances
A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labor-exporting countries.According to the World Bank, in 2018 overall global remittance grew 10% to US$689 billion, including US$528 billion to developing countries. Overall global remittance is expected to grow 3.7% to US$715 billion in 2019, including US$549 billion to developing nations.Due to its large diaspora and overseas expats population, India consecutively remains the top receiver of remittance, e.g. with US$80 billion in 2018, US$65.3 billion (2.7% of India's GDP) in 2017, US$62.7 billion in 2016 and US$70 billion in 2014. Other top recipients in 2020 were US$67 billion to China, US$34 billion each to Philippines and Mexico and US$26 billion to Egypt.
Numerology
Chaldean Numerology
The numerical value of remittances in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of remittances in Pythagorean Numerology is: 1
Examples of remittances in a Sentence
Our view is that growth will decline further because we expect the remittances will decline further.
Restricting remittances that can be sent to Cubans will directly hurt the Cuban people, this is a shameful and mean-spirited policy.
A global stablecoin for retail purposes could provide for faster and cheaper remittances, spur competition for payments and thus lower costs, and support greater financial inclusion, however...they give rise to a number of risks related to public policy priorities including anti-money laundering and countering the financing of terrorism, consumer and data protection, cyber resilience, fair competition and tax compliance.
This would help boost foreign exchange supply and encourage capital inflows and a free flow of remittances, very soon we will see a more flexible approach.
Unsurprisingly, a weaker global environment has knock-on effects on the region through a variety of channels - trade, remittances, capital flows, commodity prices, and financing conditions.
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Translations for remittances
From our Multilingual Translation Dictionary
- ಹಣ ಪಾವತಿKannada
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"remittances." Definitions.net. STANDS4 LLC, 2024. Web. 28 Mar. 2024. <https://www.definitions.net/definition/remittances>.
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