Remittances to Fij grew by 34.6% between Q4 2019 and Q4 2020.
This week we celebrate International Day of Family Remittance: Recovery and resilience through digital and financial inclusion.
Remittances, or “cross-border person-to-person payments of relatively small value,” serve as a vital lifeline to the developing world. Individual remittances may be of ‘relatively small value,’ but collectively these flows are three times greater than global official development assistance. Remittances underwrite many basic household needs and support skills formation and opportunities through education and entrepreneurship. These resources prove transformational for both households and local communities, enabling many families to achieve their ‘own SDGs.’ (source: UN)
Do you want to find out more about remittance in the Pacific? Explore more data here:
|Pacific Island Countries and territories||2020-Q1||2020-Q2||2020-Q3||2020-Q4||2021-Q1|
|Papua New Guinea||-67.9||-72.7||-71.1||-100||n/c|