OFWs in UK Send Biggest OFW Remittances from Europe

Remittances from OFWs in UK continue to top European OFW remittances.

From January to May 2011, the first 5 months of the year, OFW remittances from the UK surpassed US$ 382 million, accounting for nearly 27 percent of all European remittances and almost 5 percent of the total OFW remittances from around the world in the first 5 months of 2011.

The second highest remittance total came from Italy: a total of US$ 242.41 million.

Rank   Country Remittance Up/Down Sea/Land
In Million US$
1.  United Kingdom 382.35 8.7 % land
2.  Italy 242.41 3.0 % land
3.  Germany 194.48 1.5 % sea/land
4.  Norway 180.30 29.5 % sea
5.  Greece 113.38 29.9 % sea
6.  Netherlands 59.71 7.7 % land
7.  Spain 39.34 34.6 % land
8.  Switzerland 37.35 2.7 % land
9.  Belgium 23.08 51.7 % land
10.  Denmark 23.07 7.9 % sea
11.  Cyprus 21.04 15.8 % sea
12.  Austria 20.46 27.6% land
13.  France 18.88 4.1 % land
14.  Sweden 7.99 -30.5 % sea
15.  Ireland 3.39 -56.7 % land
16.  Isle of Man 1.48 -26.2 % land
17.  Finland 1.97 163.4 % sea
18.  Luxembourg 1.35 10.4 % land
Rank   Country Remittance Up/Down Sea/Land
In Thousand US$
19.  Monaco 985 -6.6 % sea
20.  Malta 836 10.7 % land
21.  Portugal 678 -48.2 % land
22.  Liechtenstein 503 -22.4 % land
23.  Russia 311 28.5 % land
24.  Turkey 289 10.7 % land
25.  Andorra 240 no previous land
26.  Channel Islands 203 298.0 % land
27.  Gibraltar 192 200.0 % land
28.  Czech Republic 189 -45.8 % land
29.  Kazakhstan 178 89.4 % land
30.  Azerbaijan 125 101.6 % land
31.  Hungary 108 6.9 % land
32.  Poland 65 -34.3 % land/sea
33.  Iceland 45 -23.7 % land
34.  Latvia 27 no previous land
35.  Slovenia 22 -29.0 % land
36.  Greenland 20 566.7 % land
37.  Croatia 16 -68.8 % land
38.  Faeroe Island 13 62.5 % land
39.  Bulgaria 11 -89.5 % land
40.  Romania 4 33.3 % land
41.  Ukraine 1 no previous land
42.  Albania 1 -100 % land
Europe 1.43 billion 11.3 % land
From all around the world 7.9 billion 6.2 % land

* Up/Down — Comparison to Remittances in Jan-May 2010. In most countries, remittances increased; in some countries, money transfers decreased.
* Land/Sea — Whether more US$ came from land-based or sea-based workers. Many countries host both land-based and sea-based OFWs. In Germany and in Poland, the remittance amounts from sea-based and land-based are almost the same.
* The highest rate of increase in remittance were posted by OFWs in Greenland and Channel Islands.
* The biggest drop in remittance occurred in Albania.

* For the biggest sources, the highest rate of increase in remittances were posted by OFWs in Finland, Belgium and Spain. The biggest drops occurred in Ireland and Sweden.

Related Articles:
OFW Remittances from Other Asian Countries in the first 4 Months of 2011

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