Annual value of outgoing and incoming remittance flow in Canada 2021, by country
India was Canada's main destination for remittances in 2021, according to a country ranking on the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Canada, the top five recipient countries for remittances in 2021 included India, the Philippines, China, France, and Pakistan. Canada's five main sources for remittances were - by a large margin - the United States, followed by the UK, Australia, France, and Italy.
