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Globally, official records suggest migrants have sent more than $500 billion (£320 billion) in remittances. In 2011, recorded remittances from the UK were worth just over $3.2 billion.
According to the estimates, remittances from the UK, including unrecorded transfers through formal and informal channels, could be worth up to $23 billion – including $3.9 billion to India, $3.8 billion to Nigeria, and more than $1.2 billion to Poland. This would make the UK the third-largest source of remittances, after the US and Canada.
The UK is a major host of migrants, and London remains a global center for migration with approximately 3.8 million residents out of a total population of 8.65 million. The United Kingdom has an outflow of more than US$17 billion in remittances to developing countries.
Remittance flows from the United Kingdom are mainly sent to former colonies throughout the world, including Bangladesh, India, Kenya, Nigeria, Pakistan and Sri Lanka, as well as to China, Lithuania, the Philippines and Poland.
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