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Tanzanian Diaspora now significantly contributes to GDP
2008-03-03 08:45:25
By Guardian Reporter
A latest report by the UN`s International Fund for Agricultural Development (IFAD) says Tanzanian Diasporas sent a total of USD313 million in remittance money into the country in 2006.
This amount constituted 2.4 percent of the country’s Gross Domestic Product (GDP). Kenyan Diasporas transferred to their motherland USD796 million, which was 3.8 per cent of that country’s GDP.
Ugandans living abroad managed to send to their homes USD642 million, representing 6.9 per cent of the country’s GDP.
IFAD says remittance flows to and within Africa approach USD40 billion.
Countries in Northern Africa (for example, Morocco, Algeria and Egypt) are the major receivers in the continent.
Eastern African countries depend heavily on these flows, with Somalia standing out as particularly remittance dependent.
For the entire region, annual average remittances per migrant reach almost USD1, 200 and on a country-by-country average represent 5 per cent of GDP and 27 per cent of exports.
Ethiopians in Diaspora sent a total of USD591 million in remittance money to Ethiopia in 2006, and this amount is nearly 4.4 per cent of Ethiopia`s GDP.
Sub-Saharan Africa has over 30 million people in the Diaspora.
Of all the world’s regions, however, Africa`s predominant migration is intraregional, the report said. Remittance flows to and within Africa approach USD40 billion.
North African countries such as Morocco and Egypt are the continent`s major recipients, the report stated. The annual average remittance per migrant is USD1, 358. The top five recipients of remittance money are Morocco, Nigeria, Algeria, Egypt and Tunisia.
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