In Mexico, the annual value of remittances are larger than their oil exports. In Egypt, the annual US$ value of remittances are seven times the revenue generated from the from Suez Canal.
Remittances flowing to lower and middle-income countries are now larger than the value of foreign direct investment. So an understanding of some of the benefits and risks from remittances is important in understanding growth and development in many countries. Thos revision video explores some of the key points.
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