The Migration and Development Brief 20 issued on April 19, 2013 contained a tabulation error in Table 1 of page 11. This affects the estimates highlighted below, which were shifted by one year. For example, the remittance inflows for the World in 2012 were reported as $514 billion, instead of $529 billion. The table has been corrected in this version of the Migration and Development Brief 20 which is also posted at the World Bank's migration page. We regret any inconvenience.
e= estimate; f=forecast
Notes and sources: The revised estimates are slightly lower than the figures reported in the Migration and Development Brief 19 (http://goo.gl/vkGt3). Data on remittance flows come from Central Banks and the IMF Balance of Payments statistics, and are the sum, of three items: workers’ remittances, compensation of employees, and migrants’ transfers. The estimates for 2012 are based on monthly and quarterly data as available, with year-on-year growth for the partial year data used to estimate the remaining periods of 2012. For countries that have not released any data for 2012, as well as projections in the forecast period, a model is used that relies on migrant stocks, remittance inflows, and the growth outlook of the remittance source countries. GDP projections used in the model come from the World Bank’s Global Economic Prospects and from the IMF’s World Economic Outlook (where data is not available from the former). The remittances data for 2012 are likely to change as countries release actual data for the year.