United Kingdom: Remittances

* indicates monthly or quarterly data series
 United Kingdom

Remittances, million USD

 Latest value 3,933.15
 Year 2023
 Measure million U.S. dollars
 Data availability 1987 - 2023
 Average 3,908.83
 Min - Max 1,369.10 - 6,556.34
 Source The World Bank
The latest value from 2023 is 3933.15 million U.S. dollars, a decline from 3965.08 million U.S. dollars in 2022. In comparison, the world average is 4590.03 million U.S. dollars, based on data from 184 countries. Historically, the average for the United Kingdom from 1987 to 2023 is 3908.83 million U.S. dollars. The minimum value, 1369.1 million U.S. dollars, was reached in 1987 while the maximum of 6556.34 million U.S. dollars was recorded in 2007. 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 data
United Kingdom - Remittances - Recent values chart

Historical series
United Kingdom - Remittances - historical chart - 1987-2023




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 Reference Measure
 Terms of trade 95.19 2021 percent
 Trade openness 65.59 2023 percent
 Financial openness 2.299 2021 index points
 Exports, percent of GDP 32.17 2023 percent
 Exports, billion dollars 1,074.58 2023 billion U.S. dollars
 Growth of exports -0.51 2023 percent
 Imports, percent of GDP 33.41 2023 percent
 Imports, billion dollars 1,116.06 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP -1.44 2023 percent
 Foreign Direct Investment, billion dollars 44.90 2022 billion U.S. dollars
 Portfolio investment inflows, equities -7,151.12 2023 million dollars (current)
 Current account, percent of GDP -3.30 2023 percent
 Current account, in dollars -110.39 2023 billion U.S. dollars
 Trade balance, percent of GDP -1.24 2023 percent
 Trade balance, in dollars -41.64 2023 billion U.S. dollars
 Reserves 177.92 2023 billion U.S. dollars
 Remittances, percent of GDP 0.12 2023 percent
 Remittances 3,933.15 2023 million U.S. dollars
 Net errors and omissions 25,116.91 2023 million USD
 Foreign exchange reserves 226.85 9/2024 billion
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