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Thread: Remittance data - various sources

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    TRN Science officer bill_bly_ca's Avatar
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    Default Remittance data - various sources

    Just poking around at lunch today...

    http://www.remittances.eu/content/view/81/142/

    http://idbdocs.iadb.org/wsdocs/getdo...docnum=1662094

    http://siteresources.worldbank.org/I.../Nicaragua.pdf

    In a nut shell.. Increased on a nice curve from 94 to 06.. Began to level on 07 and some (incomplete) data from 08 is showing great decline across all of CA and Mexico...
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  2. #2

    Default Re: Remittance data - various sources

    are you trying to say that people are going to have to get real life jobs and get off the couch!

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    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    Quote Originally Posted by tres frijoles View Post
    are you trying to say that people are going to have to get real life jobs and get off the couch!
    I'm just saying money "IN" is down..

    The lack of money has many and sorted results.. Very few of them positive..
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    Default Re: Remittance data - various sources

    The figure that jumped out to me was that of every 100 dollars of GDP 18 dollars come in from remittances.

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    Para aquí para acá Jonh's Avatar
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    Default Re: Remittance data - various sources

    It's a voluntary form of foreign aid, that's probably a million times more effective than that provided by government. It's sort of like paying foreigners to stay in their own country. Now, if the recipients used the money to buy imported American products, it wouldn't be so bad. But if the money leaves our economy never to return, it can be a problem.

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    Active TRN Member dixietraveller's Avatar
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    Post Re: Remittance data - various sources

    Quote Originally Posted by John View Post
    . . . . But if the money leaves our economy never to return, it can be a problem.
    Yeah, makes me wonder how long before the government stops sending social security payments abroad. Think what a "stimulus" that would be if all expats suddenly had to spend their social security checks in the U.S.! The dollar may someday be like the Soviet era ruble with same currency restrictions.
    O quantum est in rebus inane! / A palabras necias, oídos sordos

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    Para aquí para acá Jonh's Avatar
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    Default Re: Remittance data - various sources

    That'll be about as popular as ending the tax exemption for income earned abroad, which can result in the same thing.

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    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    Quote Originally Posted by John View Post
    That'll be about as popular as ending the tax exemption for income earned abroad, which can result in the same thing.
    I thought you folks were taxed on world income?

    At least that what the US citizen folks I work with at LCD glass plants in Taiwan and Japan tell me .. They are PO'ed at Canadian coworkers (Contractors and employees for US company working in Asia) are only are taxed on the portion of income that is repatriated , while US citizen employees have to pay US rate taxes every pay period regardless if it returns home or not..
    Last edited by bill_bly_ca; 02-28-2009 at 10:43 PM. Reason: a
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    Para aquí para acá Jonh's Avatar
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    Default Re: Remittance data - various sources

    If you meet certain requirements, the IRS allows you to claim a foreign income tax exemption of up to $80,000. You may also be able to deduct certain amounts you paid for your housing.

    To qualify for these exclusions and deductions, you must have earned the income abroad and be living abroad. You must also claim residency in a foreign country for the entire tax year or be present in that country for 330 days out of 12 consecutive months. If you meet these fairly simple requirements, you will save a bundle on taxes. Please keep in mind that you must file a tax return with the IRS even if you do not owe any money because of the exclusion.
    I'll betcha our TRN full timers in Nic. do this.
    http://www.businesstaxrecovery.com/f..._tax_exemption

    SS and Medicare taxes are another story, I'm sure. You'd still have to pay those I believe.

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    Viejo del Foro Just Plain John Wayne's Avatar
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    Default Re: Remittance data - various sources

    Quote Originally Posted by John View Post
    I'll betcha our TRN full timers in Nic. do this.
    http://www.businesstaxrecovery.com/f..._tax_exemption

    SS and Medicare taxes are another story, I'm sure. You'd still have to pay those I believe.
    I make so little at BEST, that I cannot even Pay attention.....Let alone taxes to support those on the "Dole"....(English slang here).......

    But...WTF, Welcome to TRN......
    To be called a "Has Been" I must surmise, is much Greater than to be called a "Nevah Been"... JW...



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    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    Did some new searching today at lunch and found this report from Mar this year stating Dec 08 data showed remittances holding up...

    http://pnud.economiccluster-lac.org/...sUpdateNo4.pdf

    This one says much the same as well.. Dated for this month..

    http://www.thedialogue.org/Publicati...recession1.pdf
    Last edited by bill_bly_ca; 05-25-2009 at 11:37 AM.
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    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    Some timely results from a google today

    FT Aug 12

    Sun-Sentinel

    WSJ

    news.cn

    as-coa

    stabroeknews <-- Google ads nailed this one

    Jamaica Gleaner

    I put the last one in because of some anecdotal data ...

    My Dad has a small greenhouse operation and has brought 7 Jamaicans for the past 10yrs to work in his greenhouse.. They come up in March, work for him from March to end of July and then typically work Tobacco, cucumber, tomato, etc picking for my Dad's neighbors until October when they head home..

    The neighboring farms also have the same sort of arrangements with Mexican, T & T, T & K , El Salvador etc etc workers...

    This year the neighboring farms sent home large portions of their alien work force and my Dad's group could not find any extra work so they left last week..

    There will be a lien fall and winter in CA and Caribbean this year..
    Last edited by bill_bly_ca; 08-26-2009 at 01:47 PM.
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    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    Page 2 of this PDF... CA in general had a kick in the teeth for remittances in 2009 so far. (data is quarter over quarter)

    Nicaragua's central bank did not even report Q2 numbers..
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    Viejo del Foro bikingo's Avatar
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    Default Re: Remittance data - various sources

    Quote Originally Posted by Just Plain John Wayne View Post
    I make so little at BEST, that I cannot even Pay attention.....Let alone taxes to support those on the "Dole"....(English slang here).......

    But...WTF, Welcome to TRN......
    You mean you dont have down payment for a free lunch

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    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    So some good news...

    yr over yr remittance data for Jan 10 was down 5.6% from Jan 09 (which was also down over 08) BUT... Feb 10 is up 4% over Feb 09...

    remittancesgateway.org

    Little else seems to be pulled out of Google today (I thought being 30 days after end of Q1 some more data would be available.. I will try again in a few weeks..)

    Also found this IAB data sheet as well.. Unfortunately the up to date data is only for the CAC-7 , not broken out Nica specific. Most Nica spacific data is 2008. Inter-American development Bank
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    Viejo del Foro Daddy-YO's Avatar
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    Default Re: Remittance data - various sources

    Quote Originally Posted by Jonh View Post
    It's a voluntary form of foreign aid, that's probably a million times more effective than that provided by government.
    You got that right. Most of it goes directly into the hands of the poor family members who were too old, too young or couldn't afford to pay the coyote's price.

    Quote Originally Posted by Jonh View Post
    Now, if the recipients used the money to buy imported American products, it wouldn't be so bad. But if the money leaves our economy never to return, it can be a problem.
    The USA is totally dependent on foreign countries holding dollars & bonds, whether they spend 'em or not. They can always be de-valued later, right? The government prints them in excess. It's called national debt.

    Western Union nearly disappeared years ago when few cared to send telegrams and then along came "seasonal workers" with their remittances home and their stock skyrocketed. Then agribusiness companies (initially, beef, pork & poultry) started laying off well-paid citizens and arranging for illegals to come directly to work at below minimum wage, and remittances shot up big time. Western charges a hefty fee for a minimal service. But now there's plenty of competition.

    I recall reading that remittances were second to petroleum toward Mexico's GDP. But Americans' appetite for cocaine (didn't that fuel the whiz kids on Wall St?), meth & pot (etc.) will counteract this economic trend, in LAm too. Unfortunately those dollars are going into bloody hands, not those of deserving poor folks.

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    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    Since I was living in the past today WRT Google Earth I wondered what a Google of remittances would show...

    Interesting..


    #1
    Nicaragua: $ 822.8 Million in Remittances in 2010

    Tuesday, February 15, 2011
    2010 had the highest remittance income for the past ten years, according to Central Bank data.
    In relation to 2009, growth was 7%, with December having the highest figure at $ 81.7 million.

    "According to the NCB report, family wires last year was the third largest source of resources for Nicaragua's families," adds Laprensa.com.ni.


    #2
    Nicaragua: Remittances Up 9%

    Wednesday, September 28, 2011
    Between January and July, Nicaraguans living abroad sent $509 million to the country, which is 9% more than in the same period in 2010.
    Despite the economic crisis affecting the United States, one of the main destinations of choice forNicaraguans seeking better opportunities, the money they send to their families in Nicaragua continues to grow.


    #3

    Remittances to Central America Increasing


    Wednesday, June 15, 2011
    The recovery in the amount of money sent to their countries of origin by Central American emigrants remains strong.
    In the first quarter, in Nicaragua, remittances totaled $ 287.5 million, 8.2% higher than in same period in 2010.

    Monetary transfers to Guatemala (the largest recipient in Central America), totalled $1,758.7 million in the first five months of 2011. An increase of 10.4% compared to the same period in 2010.



    All taken from here...
    http://www.centralamericadata.biz/en...22Nicaragua%22

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    Para aquí para acá Jonh's Avatar
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    Default Re: Remittance data - various sources

    In other words, if the government drives people out of the country, it's good for the economy.

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    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    Quote Originally Posted by Jonh View Post
    In other words, if the government drives people out of the country, it's good for the economy.
    Those with "Get up and go"......."Got up and went" ....

    Which allows "different" things to happen back in the home country..
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    Default Re: Remittance data - various sources

    Quote Originally Posted by bill_bly_ca View Post
    Those with "Get up and go"......."Got up and went" ....

    Which allows "different" things to happen back in the home country..
    Well, that's one way to get the election results you want.

    And now, thanks to you, I have a dang Aerosmith song in my head.

  21. #21
    TRN Science officer bill_bly_ca's Avatar
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    Default Re: Remittance data - various sources

    The day before a long weekend so getting the wheels turning at work is a little difficult - Spat by my in the twitter verse this AM was the numbers for Q1 remittance for 2015

    $181 Million

    Looking back on the thread history is is quite a drop from 2011. I have to google what happened in 12,13 and 14 through the day today..
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    Viejo del Foro Daddy-YO's Avatar
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    Default Re: Remittance data - various sources

    Quote Originally Posted by bill_bly_ca View Post
    Looking back on the thread history is is quite a drop from 2011. I have to google what happened in 12,13 and 14 through the day today..
    Global recession (depression for the poorest) affected most the countries that pay decent wages. The patron-peon nations actually got a boost, but that does nada for the poor helping their own by sending money home.

    So caravans of Latinos left the States in their SUVs, shipping the max allowable used stuff in their faux 'repatriation'. During their stays in home-country they'll scout for and buy bargain properties with Yanqui dollars.

    And so the Americas tend toward uniformity. Capitalist financing of patron-peon-inequalities thrive.
    I never met a Semite I didn't like.

  23. #23

    Default Re: Remittance data - various sources

    Quote Originally Posted by Daddy-YO View Post
    Global recession (depression for the poorest) affected most the countries that pay decent wages. The patron-peon nations actually got a boost, but that does nada for the poor helping their own by sending money home.

    So caravans of Latinos left the States in their SUVs, shipping the max allowable used stuff in their faux 'repatriation'. During their stays in home-country they'll scout for and buy bargain properties with Yanqui dollars.

    And so the Americas tend toward uniformity. Capitalist financing of patron-peon-inequalities thrive.

    How long does a Nica have to be out of country to qualify for the exemptions (as a repatriating Nica) ?

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    Viejo del Foro el duende grande's Avatar
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    Default Re: Remittance data - various sources

    Quote Originally Posted by bill_bly_ca View Post
    Those with "Get up and go"......."Got up and went" ....

    Which allows "different" things to happen back in the home country..
    Remittance is addictive. The next generation expects its check. Why work or study when you can whine and you will eventually get money or get sent up to the states? There are exceptions, we have one female go-getter who is just finishing up medical school, but that is the one good example.

    "Support mental health or I'll break your head"


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    Viejo del Foro Just Plain John Wayne's Avatar
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    Default Re: Remittance data - various sources

    How many have I seen from here go off and find work that pay's well.. Send their monies home expecting it to be put up... and come back to someone else wearing their Tee Shirts and Drinking their Beer....

    Moreso than the other way around you can bet your Sweet Bippy....
    To be called a "Has Been" I must surmise, is much Greater than to be called a "Nevah Been"... JW...



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