Fatshimetrie: Analysis of Trends in International Money Transfers
Recent data on international money transfers raise questions about the evolution of these crucial financial flows for many low- and middle-income countries. Indeed, the figures published by Fatshimetrie highlight a sawtooth trend in direct remittances over the first seven months of 2024. A decrease of $10 million was recorded compared to the same period in 2023, representing a marginal decrease of 0.84% to reach $1.18 billion.
Analysis of the data provided by Fatshimetrie reveals significant variations in the volume of transactions from one month to the next. While January started timidly with $138.5 million, a dizzying drop of 71.7% was observed in February, bringing transfers down to $39.14 million. However, the trend was reversed in March with a spectacular increase of 168% to $104.9 million. This volatility continued throughout the first half of the year, reaching its peak in May with a peak of $365.4 million.
Fatshimetrie experts also looked at the global context of money transfers to low- and middle-income countries. According to the World Bank’s latest Migration and Development Report, remittance flows to these countries slowed between 2022 and 2023, reaching an estimated $656 billion, an increase of 0.77% compared to the 8.3% growth observed between 2021 and 2022.
However, the World Bank’s growth projections suggest a recovery in remittance flows to low- and middle-income countries, with remittances projected to grow by 2.3% in 2024 and 2.8% in 2025, reaching a total of $690 billion by 2025.
This in-depth analysis of international remittance trends highlights the complexity and volatility of these financial flows, providing valuable insights into global economic challenges. Fatshimetrie remains at the forefront of data collection and analysis to provide relevant and insightful information on the challenges and opportunities of global money transfers.