Annual value of outgoing and incoming remittance flow in Indonesia 2021, by country
The value of remittances sent from Indonesia was significantly less than the value received, with most of the outflow going towards China 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 Indonesia, the top five recipient countries for remittances in 2021 included China, Thailand, Japan, South Korea, and Timor-Leste. Indonesia's five main sources for remittances were either in Southeast Asia or the Middle East: Saudia Arabia, Malaysia, the United Arab Emirates, Singapore, and Hong Kong SAR.