Annual value of outgoing and incoming remittance flow in Zambia 2021, by country
Half of the total value of remittances sent from Zambia went towards the Democratic Republic of the Congo, India, and Zimbabwe in 2021. This is according to a ranking that tries to identify the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Zambia, the top five recipient countries for remittances in 2021 included the Democratic Republic of the Congo, India, Zimbabwe, Malawi, and Tanzania. Zambia's five main sources for remittances were the United States, the United Kingdom, Zimbabwe, Malawi, and South Africa.