Malawi: Remittances

* indicates monthly or quarterly data series

Remittances, million USD

 Latest value 259.00
 Year 2022
 Measure million U.S. dollars
 Data availability 1994 - 2022
 Average 56.87
 Min - Max 0.52 - 280.91
 Source The World Bank
For that indicator, we provide data for Malawi from 1994 to 2022. The average value for Malawi during that period was 56.87 million U.S. dollars with a minimum of 0.52 million U.S. dollars in 1995 and a maximum of 280.91 million U.S. dollars in 2019. The latest value from 2022 is 259 million U.S. dollars. For comparison, the world average in 2022 based on 181 countries is 4215.66 million U.S. dollars. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Malawi - Remittances - Recent values chart

Historical chart
Malawi - Remittances - historical chart - 1994-2022

Remittances are the money sent home by people who work in a foreign country. These are, for example, the money sent to Mexico by Mexican workers in the U.S.
Definition: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

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 Related indicators Latest value Reference Measure
 Terms of trade 90.44 2021 percent
 Financial openness -1.242 2021 index points
 Foreign Direct Investment, percent of GDP 1.85 2022 percent
 Foreign Direct Investment, billion dollars 0.24 2022 billion U.S. dollars
 Portfolio investment inflows, equities 0.00 2017 million dollars (current)
 Current account, percent of GDP -16.50 2023 percent
 Current account, in dollars -2.28 2022 billion U.S. dollars
 Trade balance, in dollars -2.22 2022 billion U.S. dollars
 Reserves 0.59 2020 billion U.S. dollars
 Remittances, percent of GDP 1.97 2022 percent
 Remittances 259.00 2022 million U.S. dollars
 Net errors and omissions 562.19 2022 million USD
 External debt 25.83 2022 percent
 Short-term external debt 2.72 2022 percent
 Short-term debt to reserves 30.01 2020 percent
 Foreign exchange reserves 397.40 9/2020 billion
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