Annual value of outgoing and incoming remittance flow in Japan 2021, by country

Outbound remittances from Japan were twice as big as the value of incoming remittances, with one third of Japan's outflow going towards China in 2021. This is according to a ranking that attempts to map out 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 Japan, the top five recipient countries for remittances in 2021 were found in Asia as it included China, Vietnam, South Korea, the Philippines, and Thailand. Japan's five main sources for remittances were the United States, Brazil, Australia, Germany, and the United Kingdom.