Global remittance inflow during the Covid-19 pandemic has proven more resilient than expected. This is especially true for inflow to low and middle-income countries including Bangladesh.

According to new World Bank data, global remittances are expected to total 702 billion USD in 2020, down from 719 billion USD in 2019 (-2.4 percent). Of that total, 540 billion USD are expected to have flown into low and middle-income countries, down from 548 billion USD (-1.6 percent), reports World Economic Forum quoting WB.

While total remittance inflow was down, some countries actually saw increase during the crisis quite substantially. Among them are Mexico, the third-biggest remittance recipient in the world, as well as Egypt, Pakistan and Bangladesh, the global numbers five, six and eight.

Among developing nations, India and the Philippines had some of the smallest losses in 2020 compared to 2019, at 0.2 percent and 0.7 percent, respectively.

However, India has made it to the top of the list in terms of receiving remittance, while China, Philippines and Pakistan are on second, fourth and sixth positions respectively.

Two developed countries -- France and Germany -- are also present in the top 10 list.