Cambodian Migrants Send Home $1.6 Billion in 2019

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Cambodian Migrants Send Home $1.6 Billion in 2019

Post by CEOCambodiaNews »

April 24, 2020
$1.6 billion sent home to Cambodia by migrant workers in 2019

Cambodia received $1.6 billion in worker remittances from abroad last year, according to the Global Knowledge Partnership on Migration and Development (KNOMAD).

In a report released in Washington Wednesday, the World Bank affiliate said the sum represents 5.9 percent of Cambodia’s estimated gross domestic product (GDP) in 2019.

It also said that remittance fees from Thailand were among the highest in East Asia and the Pacific, the World Bank region that comprises 25 developing countries.

For Cambodian workers in Thailand to send $200 back home, the average remittance fee was 11.8 percent in the fourth quarter of last year, the report said...

Among the 25 countries in the region, Cambodia was the eighth-biggest recipient of remittances last year.

China was the largest $68.4 billion) followed by the Philippines $35.2 billion), Vietnam $17.0 billion), Indonesia $11.7 billion), Thailand $7.1 billion), Myanmar $2.8 billion) and Malaysia $1.7 billion).

Among ASEAN citizens, Filipinos and Vietnamese made the biggest contributions to their economies — 9.9 percent of GDP in the Philippines and 6.5 percent in Vietnam.
https://www.khmertimeskh.com/50716721/1 ... s-in-2019/

WORLD BANK:
Data release: Remittances to low- and middle-income countries on track to reach $551 billion in 2019 and $597 billion by 2021
https://blogs.worldbank.org/peoplemove/ ... llion-2019
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