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The remittances of North-African immigrants and the crisis impact – 2014

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The remittances of North-African immigrants and the crisis impact – 2014

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According to the data released by the World Bank, in 2012 the total amount of migrants’ remittances was 529 billion dollars. Four hundred one billion went to developing countries, with a 5.3% increase compared to 2011. Middle East and North Africa (MENA region) registered a record growth of remittances in the world in 2012, with a remittance flow worth 49 billion dollars, an increase by 14.3% compared to the previous year. Egypt alone represents over 40% of the total of remittances that arrived in the MENA region and it witnessed a six fold increase of the worth of its remittances in the last 8 years, thus becoming the most important beneficiary of the area before Lebanon, Morocco, Jordan and Tunisia. In 2012 North-African migrants in Italy transferred about 314 million Euros to their families of origin, which equal 4.6% of the total of remittances coming from Italy. The value decreased from the one registered in 2011 (388 million Euros); the dynamic was highly influenced by the Italian economic crisis: income of African migrants in Italy shrank and so also the flow of their remittances.

This report is extracted from the SRM’s 3rd Annual Report on “Economic relations between Italy and the Mediterranean area – November 2013″.
Both the English and Italian version may be purchased from this website in digital version, at a discounted price.

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Support our research project, register yourself and purchase the report

According to the data released by the World Bank, in 2012 the total amount of migrants’ remittances was 529 billion dollars. Four hundred one billion went to developing countries, with a 5.3% increase compared to 2011. Middle East and North Africa (MENA region) registered a record growth of remittances in the world in 2012, with a remittance flow worth 49 billion dollars, an increase by 14.3% compared to the previous year. Egypt alone represents over 40% of the total of remittances that arrived in the MENA region and it witnessed a six fold increase of the worth of its remittances in the last 8 years, thus becoming the most important beneficiary of the area before Lebanon, Morocco, Jordan and Tunisia. In 2012 North-African migrants in Italy transferred about 314 million Euros to their families of origin, which equal 4.6% of the total of remittances coming from Italy. The value decreased from the one registered in 2011 (388 million Euros); the dynamic was highly influenced by the Italian economic crisis: income of African migrants in Italy shrank and so also the flow of their remittances.

This report is extracted from the SRM’s 3rd Annual Report on “Economic relations between Italy and the Mediterranean area – November 2013″.
Both the English and Italian version may be purchased from this website in digital version, at a discounted price.

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