Migrant remittances, % of GDP, 2014

Between 2005 and 2010, officially registered remittances from emigrants to ECOWAS countries increased, on average, by more than 8% per year to nearly USD 23 billion in 2010. This is twice the amount of foreign investment and 5% of the regional GDP. Nigeria alone accounts for 86% of these inflows. The transfers come mainly from emigrants living in developed countries, but are also significant in countries where the majority of the emigrants reside in West Africa - Togo and Mali, for example. These transfers have a documented impact on poverty reduction and inequality, as well as the food security of vulnerable households.

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