Helping hand

  • Fact: #

Latest estimates reveal that remittances comprise 0.3% of total GDP in South Africa. The African country with the highest percentage is Lesotho, at 27.7%, while the African average is 3.1%. (International Migration 2009, www.unmigration.org)

This week’s theme: South Africa and Africa

2 responses to “Helping hand

  1. Charles Melzer

    13 years Ago

    Excuse my ignorance but what are remittances?

  2. Reut

    13 years Ago

    Charles –

    Remittances are defined in this case as the sum of:
    – Workers’ remittances (current private transfers from migrants staying in a country longer than a year to households in another family
    – Compensation of employees (income of migrants staying in host country for less than a year)
    – Migrants’ transfers (transfer of household effects and financial assets when the migrant leaves the country)

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