Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Remittances

Treasury written question – answered on 10th July 2013.

Alert me about debates like this

Photo of Stephen Doughty Stephen Doughty Labour, Cardiff South and Penarth

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.

Photo of David Gauke David Gauke The Exchequer Secretary

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.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.