To ask the Chancellor of the Exchequer what assessment he has made of the total value of financial flows remitted by diaspora communities via UK-based money transfer services to (a) Somaliland, (b) Somalia, (c) Bangladesh, (d) Pakistan, (e) India, (f) Yemen and (g) Sudan in the latest period for which figures are available.
The Treasury does not hold information on financial flows relating to diaspora communities in the UK. The Treasury relies on the Office for National Statistics (ONS)for data on UK transfers. The ONS does not publish separate estimates for remittances as they are not considered to be of sufficient quality. Instead, estimates for remittances are combined with estimates for net transfers from UK charities, defined in the UK Balance of Payments (the Pink Book) as 'other payments by households'.
The latest data from the World Bank's Bilateral Remittance Matrix estimates remittances totalled US$23.16 billion from the UK in 2011. Remittances to India totalled US$3.90 billion, to Pakistan US$1.34 billion, to Bangladesh US$740 million, to Sudan US$31 million and to Yemen is US$23 million. No comparable data exists for Somalia and Somaliland. Work is under way by the Government and private sector stakeholders to assess the reliance on money remittance services by such communities.