Remittances

(asked on 22nd July 2020) - View Source

Question to the Department for International Development:

To ask Her Majesty's Government what estimate they have made of the amount in remittances sent abroad from the UK in (1) 2018, and (2) 2019.


Answered by
Baroness Sugg Portrait
Baroness Sugg
This question was answered on 5th August 2020

Based on available data it is estimated that the UK sent remittances overseas in 2018 totalling $10.4 billion and that in 2019 the estimated total of remittances sent overseas from the UK was $10.5 billion. Recognising the importance of remittance flows to developing countries, the UK, together with the Swiss government, launched a Call to Action in May to highlight and address the significant predicted fall in remittances caused by the COVID-19 crisis. We are working hard to improve the flow of remittances by improving price transparency, supporting digitisation and working across Government to address issues of money transfer operators de-risking.

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