Half of remittances from Gulf nations went to India

Dubai, May 13 (IANS) Nearly half of over $61 billion sent by expatriates in the Gulf countries in 2012 went to India, according to new data.

A total of $29.69 billion was sent as remittances by Indian expatriates living in the six Gulf Cooperation Council (GCC) states in 2012, the arabianbusiness.com reported Monday citing the World Bank’s Migration and Development Brief.

The GCC comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).

The Indian remittances accounted for 49 percent of the total remittances sent from the Gulf nations last year.

The Gulf nations also accounted for 47 percent of the total remittances to India globally in 2012.

In all, India received remittances totalling $69 billion in 2012, followed by China ($60 billion), the Philippines ($24 billion), Mexico ($23 billion), and Nigeria and Egypt ($21 billion each).

Among other major recipients are Pakistan, Bangladesh, Vietnam, and Lebanon.

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