Official figures issued as part of the annual report of the World Bank revealed that Kuwait occupied third place among countries in the Gulf and came 7th globally in terms of remittance to different countries worldwide, reports Al-Rai Daily.
The World Bank annual report indicated a total of $18.1 billion was sent from Kuwait between June 2014 and June 2015. The first and the second places within the GCC region were taken by the Kingdom of Saudi Arabia with $138.4 billion and UAE with $19.3 billion, followed by Qatar, Sultanate of Oman and Bahrain with remittances of $11.2 billion $10.3 billion and $2.2 billion respectively.
The report revealed that Indian expatriates made the most remittance from Kuwait to their home country in 2015 with approximately $4.8 billion to place Kuwait in 5th place globally among countries where funds are mostly transferred to India.
According to the report, the first four places in the list included UAE ($13.2 billion), USA ($11.5 billion), Kingdom of Saudi Arabia ($11 billion), Pakistan ($4.9 billion), and Qatar ($4.2 billion). The total remittance from the six countries to India was estimated at $57 billion. The report indicated India topped the list of countries receiving funds in 2015 with about $72 billion, followed by China with $64 billion.
Source: Arab Times