Remittances: how funds move around the world

Excellent interactive graphic from the FT.com (you’ll need to register if you haven’t already but it’s free!) here tracking remittances, the money sent home by migrants, around the world. “Remittances amounted to 1.9 percent of GDP for all developing countries in 2009” and “are estimated to have increased by 6 percent to $325 billion in 2010” according to the world bank here. This transfer of money is recorded in the Current Account of the Balance of Payments and is a vital injection of funds into many developing countries economies.