Annual value of outgoing and incoming remittance flow in Nepal 2021, by country
The value of remittances received in Nepal was roughly five times higher than the remittance outflow, with most money from Nepal going towards India 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 Nepal, the top five recipient countries for remittances in 2021 included India, China, Bhutan, Pakistan, and Bangladesh. Nepal's main sources for remittances were the Saudi Arabia, Malaysia, India, Qatar, and the United States.
