Annual value of outgoing and incoming remittance flow in Tanzania 2021, by country
Tanzania received roughly twice as many remittances in 2021 than what it sent itself to other countries, according to a ranking that maps out such 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 Tanzania, the top five recipients for remittances in 2021 included Kenya, the Democratic Republic of the Congo, India, Burundi, and Zambia. Tanzania's main sources for remittances were the United States, the United Kingdom, Canada, Rwanda, and Kenya.