2026-04-07 01:46:44
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BYD is now the world’s biggest EV maker, with 2.56 million deliveries between August 2024 and August 2025. That put the Chinese automaker well ahead of Geely and Tesla, underscoring how quickly the global EV leaderboard is changing.
This graphic, created by Iswardi Ishak using data from SNE Research, ranks the world’s largest EV manufacturers by deliveries between August 2024 and August 2025.
The figures include both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs).
Here’s the full ranking of the world’s top EV manufacturers:
| Rank | Manufacturer | HQ | Global Deliveries |
|---|---|---|---|
| 1 | BYD |  |
2,556,000 |
| 2 | Geely | |
1,315,000 |
| 3 | Tesla |  |
985,000 |
| 4 | Volkswagen |  |
854,000 |
| 5 | SAIC | |
720,000 |
| 6 | Changan | |
563,000 |
| 7 | Hyundai |  |
416,000 |
| 8 | Chery | |
395,000 |
| 9 | BMW | |
389,000 |
| 10 | Stellantis |  |
342,000 |
BYD stands alone at the top, delivering more than 2.5 million EVs over the period. Geely ranks second, while Tesla sits in third, showing that the global EV race is no longer a two-horse contest.
BYD’s lead over the rest of the field is sizable. Its 2.56 million deliveries were nearly double Geely’s total and well above Tesla’s 985,000, cementing its position as the global EV leader over the past year.
The ranking also highlights China’s manufacturing depth. In addition to BYD and Geely, SAIC, Changan, and Chery all made the top 10. Strong domestic demand, large-scale production, and close supply-chain integration have helped Chinese automakers expand faster than many Western rivals.
China’s dominant position in the ranking goes beyond domestic success. Chinese EV makers are increasingly exporting to markets around the world, deepening the country’s clean-tech footprint. Their presence is especially strong across parts of Latin America and Asia.
As well, global trade dynamics are beginning to shift in China’s favor. While some regions have historically imposed tariffs or restrictions on Chinese EV imports, several markets are gradually loosening these barriers to accelerate their own clean energy transitions.
Emerging economies in Southeast Asia, Latin America, and parts of Europe are increasingly welcoming affordable Chinese EVs, prioritizing cost and availability over protectionist policies. This easing of restrictions is helping Chinese automakers expand their global footprint even faster, reinforcing their growing influence in the international EV market.
Tesla remains the highest-ranked U.S. automaker, but its third-place position underscores how crowded the field has become. Volkswagen, BMW, and Stellantis are all in the top 10, yet their delivery volumes trail the top Chinese brands by a considerable margin.
In other words, the EV market is starting to look less like a Silicon Valley disruption story and more like a manufacturing scale story. Right now, China is winning that contest.
For more on the supply chains powering the EV transition, check out Next-Gen Battery Capacity by Country on Voronoi.
2026-04-06 23:34:00
Over the past year, several global currencies have posted double-digit gains against the U.S. dollar. Shifting capital flows, changing monetary policy expectations, and improving domestic fundamentals have all played a role.
Created in partnership with Terzo, this graphic shows which currencies have seen the largest gains against the U.S. dollar. It’s part of our Markets in a Minute series, which delivers quick economic insights for executives.
We analyzed countries with annual GDP of $250 billion or more, and ranked the performers of their currencies against the U.S. dollar in the last year.
Leading the pack is the Israeli shekel, up 20.2% year-over-year versus the dollar. The Bank of Israel governor attributes this to the resilience of the Israeli economy amid conflict and solid export performance. Israel has also seen strong foreign direct investment, driving demand for the shekel.
| Currency | Year-Over-Year Performance |
|---|---|
 Israeli shekel |
20.2% |
 Colombian peso |
19.7% |
 South African rand |
16.4% |
 Mexican peso |
16.4% |
 Australian Dollar |
14.8% |
 Brazilian real |
14.5% |
 Nigerian naira |
13.5% |
 Norwegian krone |
12.7% |
 Kazakhstani tenge |
12.3% |
 Malaysian ringgit |
11.2% |
Source: Trading Economics. Year-over-year performance as of April 6, 2026.
The Colombian peso and South African rand have also posted strong gains, rising 19.7% and 16.4% respectively against the U.S. dollar over the past year. The Mexican peso follows closely behind, up 16.4%, supported by higher rates relative to the U.S., record foreign direct investment, and a booming tourism sector.
Of course, a major reason currencies across the globe are gaining value against the U.S. dollar is because the American currency itself is weakening.
Analysts say the drop is partly due to market concern about the U.S. administration’s unpredictable policies. Earlier in 2025, the anticipation of more Federal Reserve rate cuts, which caused investors to look for higher returns elsewhere, also pushed the dollar lower.
When the U.S. dollar gets weaker, it changes how money and trade flow around the world.
For example, U.S. products become cheaper for other countries to buy, which can help American exporters. At the same time, companies in other countries (with stronger currencies) may find it harder to compete with U.S. goods.
For investors, a weaker dollar can boost the value of investments in other countries. Even if those investments don’t grow much, they can still be worth more when converted back into U.S. dollars simply because the currency exchange rate improved.
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2026-04-06 22:26:59
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One country towers over the global arms trade in 2025: the United States. With a 42% share of global exports, it ships more arms than the next four exporters combined.
This visualization ranks the biggest arms-exporting countries in 2025 by share of global exports, highlighting both America’s lead and the rise of newer defense suppliers like Israel and South Korea. The data for this visualization comes from the SIPRI Arms Transfers Database.
The United States leads global arms exports by a wide margin, with a gap over the second-ranked country that no other exporter comes close to matching.
| Rank | Country | % of Global Arms Exports |
|---|---|---|
| 1 |
United States |
42.0% |
| 2 |
 France |
10.0% |
| 3 |
Israel |
7.8% |
| 4 |
South Korea |
6.0% |
| 5 |
 Russia |
5.8% |
| 6 |
 Italy |
5.7% |
| 7 |
Germany |
5.1% |
| 8 |
China |
2.6% |
| 9 |
 United Kingdom |
2.1% |
| 10 |
Netherlands |
1.8% |
| 11 |
 Turkiye |
1.6% |
| 12 |
Norway |
1.2% |
| 13 |
 Spain |
1.0% |
| 14 |
 Canada |
0.9% |
| 15 |
 Sweden |
0.7% |
| 16 |
 Denmark |
0.5% |
| 17 |
Brazil |
0.5% |
| 18 |
 Czechia |
0.4% |
| 19 |
 Romania |
0.4% |
| 20 |
 Switzerland |
0.4% |
| 21 |
 Pakistan |
0.4% |
| 22 |
 Ukraine |
0.4% |
| 23 |
South Africa |
0.3% |
| 24 |
 Finland |
0.3% |
| 25 |
Australia |
0.3% |
| 26 |
 Belgium |
0.3% |
| 27 |
 India |
0.2% |
| 28 |
 Iran |
0.2% |
| 29 |
 Singapore |
0.2% |
| 30 |
 Poland |
0.2% |
| 31 |
 North Korea |
0.1% |
| 32 |
 Kyrgyzstan |
0.1% |
| 33 |
 United Arab Emirates |
0.1% |
| 34 |
 Japan |
0.1% |
| 35 |
 Ireland |
0.1% |
The U.S. has six of the top 10 arms exporting companies by revenue.
U.S. exports span advanced fighter jets, missile systems, and defense technologies supplied to allies worldwide. Even at this scale, America’s share of exports still grew 2.4% year-over-year in 2025.
Several countries are rapidly expanding their presence in the global arms market. France ranks second with a 10% share and saw its export share surge by 36%, fueled by strong demand for its Rafale fighter jets and naval systems.
Israel and South Korea stand out even more, with export share growth of 126% and 83%, respectively. These countries are becoming key suppliers of advanced technologies, including drones, missile systems, and artillery.
At the same time, several established exporters are losing ground. Russia, once a dominant supplier, now holds just 5.8% of global exports and saw its share shrink by 2.7%. Ongoing geopolitical challenges and shifting alliances have impacted its export capacity.
European exporters like Germany and the United Kingdom also recorded declines, with export shares falling 20% and 21%, respectively. Meanwhile, China’s share dropped sharply by 32%.
If you enjoyed today’s post, check out Global Nuclear Warhead Stockpiles (1945-2024) on Voronoi, the new app from Visual Capitalist.
2026-04-06 19:48:20
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Over the past 25 years, population trends have split in two directions. Some countries have seen their populations multiply several times over, while others have steadily declined.
This map shows cumulative population change by country from 2000 to 2025, based on data from the IMF. The contrast is clear: migration-driven growth in parts of the Gulf and Africa, and sustained population decline across Eastern Europe.
The fastest-growing populations are concentrated in a relatively small group of countries, mainly in the Gulf and sub-Saharan Africa, where migration and demographic momentum have driven rapid expansion.
The data table below shows the cumulative population change of each country from 2000 to 2025:
| Rank | Country | Population Change 2000–2025 (%) |
|---|---|---|
| 1 |
 Qatar |
423.4 |
| 2 |
United Arab Emirates |
249.7 |
| 3 |
 Equatorial Guinea |
166.6 |
| 4 |
 Niger |
157.0 |
| 5 |
 Bahrain |
153.9 |
| 6 |
 Papua New Guinea |
149.6 |
| 7 |
 Angola |
139.7 |
| 8 |
 Kuwait |
139.1 |
| 9 |
 Oman |
129.1 |
| 10 |
 Chad |
126.9 |
| 11 |
 Jordan |
126.3 |
| 12 |
 Burundi |
123.6 |
| 13 |
 Democratic Republic of the Congo |
121.8 |
| 14 |
 Uganda |
120.1 |
| 15 |
 Zambia |
119.5 |
| 16 |
 Mali |
118.4 |
| 17 |
 Yemen |
112.9 |
| 18 |
 Gambia, The |
112.8 |
| 19 |
 Madagascar |
108.7 |
| 20 |
 Benin |
106.6 |
| 21 |
 Republic of Congo |
107.0 |
| 22 |
 Tanzania |
106.4 |
| 23 |
 Mozambique |
102.3 |
| 24 |
 Côte d'Ivoire |
102.3 |
| 25 |
 Burkina Faso |
102.0 |
| 26 |
 Liberia |
101.2 |
| 27 |
 Cameroon |
100.4 |
| 28 |
 Malawi |
99.3 |
| 29 |
 Saudi Arabia |
98.5 |
| 30 |
 Timor-Leste |
97.5 |
| 31 |
 Senegal |
95.7 |
| 32 |
 Sierra Leone |
92.4 |
| 33 |
 Gabon |
91.4 |
| 34 |
Nigeria |
90.2 |
| 35 |
 Togo |
90.3 |
| 36 |
 Solomon Islands |
88.7 |
| 37 |
 Vanuatu |
86.9 |
| 38 |
 Rwanda |
83.9 |
| 39 |
 Ethiopia |
83.5 |
| 40 |
 Kenya |
80.9 |
| 41 |
 Guinea |
80.7 |
| 42 |
 Ghana |
78.6 |
| 43 |
Pakistan |
77.4 |
| 44 |
 Mauritania |
75.1 |
| 45 |
 Egypt |
71.0 |
| 46 |
 Namibia |
69.6 |
| 47 |
 Comoros |
69.5 |
| 48 |
 Guinea-Bissau |
69.1 |
| 49 |
 Belize |
66.8 |
| 50 |
 Tajikistan |
66.7 |
| 51 |
 São Tomé and Príncipe |
66.7 |
| 52 |
 Honduras |
65.0 |
| 53 |
 Sudan |
62.1 |
| 54 |
Israel |
61.9 |
| 55 |
 Botswana |
60.0 |
| 56 |
 Guatemala |
59.5 |
| 57 |
 Luxembourg |
57.8 |
| 58 |
 Algeria |
54.9 |
| 59 |
 Uzbekistan |
54.0 |
| 60 |
 Kiribati |
53.6 |
| 61 |
 Maldives |
52.2 |
| 62 |
Singapore |
50.9 |
| 63 |
 Panama |
50.1 |
| 64 |
 Mongolia |
49.1 |
| 65 |
 Philippines |
48.6 |
| 66 |
 Zimbabwe |
48.5 |
| 67 |
Kyrgyz Republic |
48.2 |
| 68 |
 Bolivia |
47.7 |
| 69 |
 Djibouti |
47.1 |
| 70 |
 Cambodia |
46.6 |
| 71 |
 Haiti |
46.4 |
| 72 |
 Central African Republic |
45.8 |
| 73 |
Australia |
44.9 |
| 74 |
 Ecuador |
45.1 |
| 75 |
 Malta |
44.7 |
| 76 |
Malaysia |
44.1 |
| 77 |
 Lao P.D.R. |
43.4 |
| 78 |
Ireland |
43.4 |
| 79 |
South Africa |
42.4 |
| 80 |
 Turkmenistan |
42.5 |
| 81 |
 Brunei Darussalam |
41.5 |
| 82 |
 Nicaragua |
41.4 |
| 83 |
 Costa Rica |
41.0 |
| 84 |
 Suriname |
40.7 |
| 85 |
 Iceland |
40.1 |
| 86 |
India |
38.4 |
| 87 |
 Paraguay |
38.0 |
| 88 |
 Bhutan |
38.0 |
| 89 |
 Antigua and Barbuda |
38.2 |
| 90 |
 Indonesia |
37.9 |
| 91 |
Iran |
37.8 |
| 92 |
 New Zealand |
37.9 |
| 93 |
Kazakhstan |
36.9 |
| 94 |
 Cyprus |
36.5 |
| 95 |
 Bangladesh |
36.1 |
| 96 |
Colombia |
35.7 |
| 97 |
Canada |
35.6 |
| 98 |
 Bahamas, The |
35.9 |
| 99 |
 Libya |
34.8 |
| 100 |
Mexico |
34.2 |
| 101 |
Türkiye, Republic of |
33.9 |
| 102 |
 Morocco |
32.5 |
| 103 |
 Chile |
31.7 |
| 104 |
 Peru |
30.4 |
| 105 |
 Argentina |
29.4 |
| 106 |
 Dominican Republic |
29.6 |
| 107 |
 Azerbaijan |
29.1 |
| 108 |
 Vietnam |
28.7 |
| 109 |
 Tunisia |
28.2 |
| 110 |
Switzerland |
26.0 |
| 111 |
 Seychelles |
25.9 |
| 112 |
Norway |
25.0 |
| 113 |
 Cabo Verde |
24.2 |
| 114 |
 Liechtenstein |
24.2 |
| 115 |
Spain |
22.3 |
| 116 |
Brazil |
22.1 |
| 117 |
 Samoa |
21.8 |
| 118 |
 Eswatini |
21.5 |
| 119 |
United States |
21.0 |
| 120 |
 Nepal |
20.8 |
| 121 |
Sweden |
20.2 |
| 122 |
 Myanmar |
19.5 |
| 123 |
 Lesotho |
19.4 |
| 124 |
United Kingdom |
18.6 |
| 125 |
Belgium |
15.9 |
| 126 |
 Fiji |
15.7 |
| 127 |
 Saint Kitts and Nevis |
15.6 |
| 128 |
 Austria |
14.6 |
| 129 |
 Saint Lucia |
14.5 |
| 130 |
Netherlands |
13.8 |
| 131 |
France |
13.4 |
| 132 |
 Trinidad and Tobago |
13.3 |
| 133 |
Denmark |
12.6 |
| 134 |
 Grenada |
12.6 |
| 135 |
 Hong Kong SAR |
12.2 |
| 136 |
 Thailand |
11.7 |
| 137 |
China |
10.9 |
| 138 |
South Korea |
9.9 |
| 139 |
 Venezuela |
9.3 |
| 140 |
Finland |
8.5 |
| 141 |
 Barbados |
8.1 |
| 142 |
 Guyana |
7.7 |
| 143 |
 El Salvador |
7.2 |
| 144 |
 Slovenia |
7.2 |
| 145 |
 Kosovo |
7.1 |
| 146 |
 Aruba |
6.9 |
| 147 |
 Jamaica |
6.6 |
| 148 |
Czechia |
6.1 |
| 149 |
 Mauritius |
5.8 |
| 150 |
 Dominica |
5.6 |
| 151 |
 Taiwan Province of China |
5.0 |
| 152 |
 Portugal |
4.5 |
| 153 |
 Uruguay |
4.1 |
| 154 |
Italy |
3.5 |
| 155 |
 Montenegro |
3.1 |
| 156 |
 Saint Vincent and the Grenadines |
2.8 |
| 157 |
Germany |
2.7 |
| 158 |
 Slovak Republic |
0.4 |
| 159 |
 Tonga |
0.0 |
| 160 |
Russia |
-0.7 |
| 161 |
 Estonia |
-1.6 |
| 162 |
Japan |
-2.8 |
| 163 |
 Armenia |
-3.3 |
| 164 |
 Greece |
-3.7 |
| 165 |
Poland |
-4.6 |
| 166 |
 Palau |
-5.3 |
| 167 |
 Hungary |
-6.5 |
| 168 |
 Bosnia and Herzegovina |
-8.2 |
| 169 |
 Belarus |
-9.0 |
| 170 |
 North Macedonia |
-10.0 |
| 171 |
 Georgia |
-10.3 |
| 172 |
 Micronesia |
-11.2 |
| 173 |
 Croatia |
-12.0 |
| 174 |
 Albania |
-12.8 |
| 175 |
 Serbia |
-13.1 |
| 176 |
Romania |
-16.1 |
| 177 |
 Puerto Rico |
-16.7 |
| 178 |
 Lithuania |
-17.5 |
| 179 |
 Moldova |
-18.8 |
| 180 |
 Latvia |
-21.6 |
| 181 |
 Bulgaria |
-23.2 |
| 182 |
 Marshall Islands |
-29.4 |
| 183 |
Ukraine |
-32.5 |
Qatar stands far ahead of every other country, with its population increasing more than fivefold (+423.4%) since 2000. This surge has been driven largely by an influx of foreign workers tied to energy and infrastructure booms. Other Gulf economies also rank among the fastest-growing, including the United Arab Emirates (+249.7%), Bahrain (+153.9%), Kuwait (+139.1%), Oman (+129.1%), and Saudi Arabia (+98.5%).
Outside the Gulf, several African economies also posted strong gains, including Equatorial Guinea (+166.6%), Niger (+157.0%), Angola (+139.7%), and Chad (+126.9%).
At the opposite extreme, several countries are shrinking rapidly. Ukraine leads the declines at -32.5%, followed by a cluster of Eastern European and Baltic states, including Bulgaria (-23.2%), Latvia (-21.6%), Lithuania (-17.5%), Moldova (-18.8%), and Romania (-16.1%).
EU accession opened westward migration routes for parts of Eastern Europe, accelerating long-term population losses in a region already facing aging demographics and low birth rates.
Among the world’s largest economies, population growth was generally more moderate. India grew 38.4%, while the U.S. rose 21.0%, China 10.9%, and Brazil 22.1%. Canada posted a stronger 35.6% increase, and Australia climbed 44.9%.
Elsewhere in Asia, Japan declined 2.8% and South Korea rose 9.9%, both trailing the global average increase of 46.6%.
Taken together, the map shows that the fastest population expansion has not been driven by the largest economies, but by a mix of migration-heavy Gulf states and younger, faster-growing developing countries.
If you enjoyed today’s post, check out Europe’s Population May Fall by 150 Million People by 2100 on Voronoi.
2026-04-06 13:25:37
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Europe’s fiscal rules are under pressure. The most recent data for late 2025 show that many countries are running deficits well above the European Union’s 3% limit, with some of the region’s largest economies among the worst offenders.
This map shows government budget balances as a share of GDP across Europe, based on the latest data from Eurostat and national statistical agencies.
While deficits surged during the pandemic, they remain elevated due to weak growth, energy shocks, and rising defense spending, particularly in countries closer to the war in Ukraine.
The EU sets a 3% of GDP limit on fiscal deficits, but many countries are now exceeding it by a wide margin.
From France (5.4%) to Poland (5.8%) and Romania (7.3%), several major economies are running deficits nearly double the threshold, raising questions about enforcement and fiscal discipline across the bloc.
The following data table lists European countries alongside their 2025 budget balances as a percentage of GDP.
| Country | Gov't Budget Deficit or Surplus (% of GDP) |
|---|---|
|
Romania |
-7.3% |
|
Poland |
-5.8% |
|
Belgium |
-5.7% |
|
France |
-5.4% |
|
UK |
-5.4% |
|
Austria |
-4.8% |
|
Hungary |
-4.4% |
|
Slovakia |
-3.8% |
|
Bulgaria |
-3.6% |
|
Italy |
-3.4% |
|
Finland |
-3.3% |
 EU |
-3.2% |
|
Latvia |
-3.0% |
|
Croatia |
-2.9% |
|
Germany |
-2.8% |
|
Spain |
-2.2% |
|
Czechia |
-1.9% |
|
Lithuania |
-1.8% |
|
Luxembourg |
-1.6% |
|
Netherlands |
-1.6% |
|
Slovenia |
-1.4% |
|
Estonia |
-1.2% |
|
Sweden |
-1.1% |
|
Iceland |
-1.0% |
|
Malta |
-0.6% |
|
Portugal |
-0.5% |
|
Switzerland |
0.5% |
|
Ireland |
1.2% |
|
Cyprus |
2.4% |
|
Greece |
3.2% |
|
Denmark |
3.3% |
|
Norway |
12.5% |
All figures for Q3 2025 except for Norway and Switzerland, which are 2025 estimates. Norwegian figures include oil revenues. Latest data available as of March 2026.
Why does this matter? Higher deficits typically mean more borrowing, which can push up interest costs and limit governments’ ability to respond to future crises. For heavily indebted countries, this creates a growing fiscal squeeze as debt servicing takes up a larger share of budgets.
Different variables can shape a government’s budget and cause it to run either a surplus or a deficit. For many EU countries, the COVID-19 pandemic forced higher spending at a time of economic contraction, a trend that continued during the energy crisis following Russia’s invasion of Ukraine.
The latter has also forced higher government spending for more than just energy subsidies. European governments, especially in the east, have boosted defense spending to ward off Russian aggression.
Poland stands out with a budget deficit of 5.8%, driven largely by a surge in defense spending since 2022. As one of NATO’s frontline states, the country has rapidly expanded its military budget, illustrating how geopolitical tensions are directly reshaping fiscal balances across Europe.
France, Germany, and Italy—the EU’s three largest economies—are all running deficits, but to very different degrees. France (5.4%) and Italy (3.4%) are above the EU’s limit, while Germany (2.8%) remains just below it.
Germany, which has long prided itself on fiscal prudence and low national debt, has had a rough few years, with the COVID-19 shock followed by an energy crisis and a multiyear recession.
The country recently bypassed its famous “debt brake,” which limits structural deficits, in order to boost investment in defense following the onset of the Russo-Ukrainian War. Meanwhile, the government of Chancellor Friedrich Merz is under pressure to further increase investment in key strategic sectors despite limited growth.
France and Italy are also struggling to reduce their deficits, which are among the highest in Europe, although they are hamstrung by their own domestic concerns. France’s political instability and divided legislature have caused consistent setbacks to budget revisions, while Italy has attempted for years to bring down its high public debt, which at over 135% of GDP is the second-highest in the eurozone after Greece.
Among the major non-EU economies, the budgetary situation is slightly better, albeit with one major exception: the United Kingdom is projected to have run a 5.4% deficit, contributing to its high public debt of roughly 100% of GDP.
Switzerland, meanwhile, eked out a meager 0.5% surplus, aided by above-expected profit taxes in Geneva. Norway, for its part, secured a 12.5% budget surplus, facilitated by its generous oil reserves at a time of soaring energy prices.
Norway’s 12.5% surplus stands in stark contrast to the rest of Europe. Fueled by oil revenues, it highlights how access to natural resources can dramatically reshape a country’s fiscal position. Without this energy income, however, Norway would be running a sizable deficit, underscoring how unusual its position is.
If you enjoyed today’s post, check out Ranked: Real GDP Growth in Major Economies in 2025 & 2026 on Voronoi.
2026-04-06 02:22:02
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In some economies, money sent home by workers abroad is not just helpful—it is a major pillar of national income. In Tajikistan, remittances were equal to 47.9% of GDP in 2024, the highest share in the world.
The visualization, created by Iswardi Ishak using World Bank data, maps personal remittances received as a share of GDP across 194 economies in 2024. It shows how migration-linked income plays an outsized role in a small group of countries, compared with a global average of just 0.82%.
Tajikistan ranks far above every other economy, with remittances equal to 47.9% in 2024.
Nicaragua, Nepal, Honduras, and Samoa also stand out, each relying on these inflows for roughly a quarter of national output. Globally, the average is just 0.82%.
| Rank | Country | Remittances as a % of GDP (2024) |
|---|---|---|
| 1 |
Tajikistan |
47.89 |
| 2 |
 Lebanon |
33.35 |
| 3 |
Nicaragua |
26.64 |
| 4 |
Nepal |
26.23 |
| 5 |
Honduras |
25.70 |
| 6 |
 Bermuda |
25.41 |
| 7 |
Samoa |
24.01 |
| 8 |
El Salvador |
24.00 |
| 9 |
Gambia, The |
22.00 |
| 10 |
Liberia |
21.28 |
| 11 |
Lesotho |
20.94 |
| 12 |
Comoros |
19.60 |
| 13 |
Guatemala |
19.12 |
| 14 |
Kyrgyz Republic |
17.74 |
| 15 |
 Somalia, Fed. Rep. |
17.70 |
| 16 |
Kosovo |
17.30 |
| 17 |
Haiti |
16.30 |
| 18 |
Jamaica |
16.19 |
| 19 |
Uzbekistan |
14.42 |
| 20 |
Cabo Verde |
12.25 |
| 21 |
Georgia |
11.87 |
| 22 |
Marshall Islands |
11.87 |
| 23 |
Timor-Leste |
11.77 |
| 24 |
Senegal |
11.43 |
| 25 |
Bosnia and Herzegovina |
10.55 |
| 26 |
Moldova |
10.54 |
| 27 |
Montenegro |
10.34 |
| 28 |
Guinea-Bissau |
9.79 |
| 29 |
Sao Tome and Principe |
9.75 |
| 30 |
Pakistan |
9.40 |
| 31 |
 French Polynesia |
9.20 |
| 32 |
Dominican Republic |
9.05 |
| 33 |
Philippines |
8.73 |
| 34 |
Zimbabwe |
8.45 |
| 35 |
Nigeria |
8.44 |
| 36 |
Albania |
8.41 |
| 37 |
Jordan |
8.31 |
| 38 |
St. Vincent and the Grenadines |
7.94 |
| 39 |
Morocco |
7.79 |
| 40 |
Burundi |
7.69 |
| 41 |
Egypt, Arab Rep. |
7.60 |
| 42 |
 New Caledonia |
7.26 |
| 43 |
Croatia |
7.21 |
| 44 |
Fiji |
7.11 |
| 45 |
 Sri Lanka |
6.79 |
| 46 |
Serbia |
6.40 |
| 47 |
Tunisia |
6.34 |
| 48 |
Ukraine |
6.29 |
| 49 |
Bangladesh |
6.11 |
| 50 |
Cambodia |
6.10 |
| 51 |
Solomon Islands |
6.01 |
| 52 |
Dominica |
5.67 |
| 53 |
 West Bank and Gaza |
5.37 |
| 54 |
Ecuador |
5.25 |
| 55 |
Micronesia, Fed. Sts. |
4.95 |
| 56 |
Armenia |
4.92 |
| 57 |
Belize |
4.81 |
| 58 |
Ethiopia |
4.77 |
| 59 |
Kiribati |
4.76 |
| 60 |
Sierra Leone |
4.60 |
| 61 |
Kenya |
4.15 |
| 62 |
Mali |
3.99 |
| 63 |
Ghana |
3.68 |
| 64 |
Mexico |
3.64 |
| 65 |
Rwanda |
3.63 |
| 66 |
Suriname |
3.63 |
| 67 |
India |
3.52 |
| 68 |
Grenada |
3.50 |
| 69 |
St. Kitts and Nevis |
3.45 |
| 70 |
Vietnam |
3.36 |
| 71 |
Niger |
3.27 |
| 72 |
 Curacao |
3.26 |
| 73 |
Latvia |
3.06 |
| 74 |
Colombia |
2.83 |
| 75 |
Congo, Dem. Rep. |
2.82 |
| 76 |
North Macedonia |
2.70 |
| 77 |
 Sint Maarten (Dutch part) |
2.69 |
| 78 |
Luxembourg |
2.68 |
| 79 |
Uganda |
2.65 |
| 80 |
Paraguay |
2.56 |
| 81 |
Burkina Faso |
2.55 |
| 82 |
Romania |
2.49 |
| 83 |
Guinea |
2.46 |
| 84 |
Hungary |
2.46 |
| 85 |
Guyana |
2.43 |
| 86 |
St. Lucia |
2.38 |
| 87 |
Bolivia |
2.34 |
| 88 |
Bulgaria |
2.33 |
| 89 |
Madagascar |
2.33 |
| 90 |
Belgium |
2.31 |
| 91 |
Mongolia |
2.22 |
| 92 |
Slovakia |
2.10 |
| 93 |
Cote d'Ivoire |
2.03 |
| 94 |
Mauritius |
1.92 |
| 95 |
Azerbaijan |
1.82 |
| 96 |
Belarus |
1.81 |
| 97 |
Sudan |
1.81 |
| 98 |
Cyprus |
1.80 |
| 99 |
Thailand |
1.80 |
| 100 |
Peru |
1.71 |
| 101 |
Malawi |
1.65 |
| 102 |
Myanmar |
1.55 |
| 103 |
Lao PDR |
1.49 |
| 104 |
Tanzania |
1.42 |
| 105 |
 Nauru |
1.37 |
| 106 |
Djibouti |
1.35 |
| 107 |
Zambia |
1.32 |
| 108 |
 Andorra |
1.30 |
| 109 |
Cameroon |
1.29 |
| 110 |
Lithuania |
1.24 |
| 111 |
Slovenia |
1.24 |
| 112 |
France |
1.23 |
| 113 |
Czechia |
1.22 |
| 114 |
Antigua and Barbuda |
1.19 |
| 115 |
Mozambique |
1.17 |
| 116 |
Estonia |
1.15 |
| 117 |
Indonesia |
1.15 |
| 118 |
Barbados |
1.14 |
| 119 |
Benin |
1.10 |
| 120 |
Poland |
0.95 |
| 121 |
Aruba |
0.89 |
| 122 |
Mauritania |
0.87 |
| 123 |
European Union |
0.81 |
| 124 |
Trinidad and Tobago |
0.78 |
| 125 |
Costa Rica |
0.76 |
| 126 |
Iceland |
0.74 |
| 127 |
Sweden |
0.73 |
| 128 |
Namibia |
0.72 |
| 129 |
Eswatini |
0.69 |
| 130 |
Algeria |
0.67 |
| 131 |
Botswana |
0.66 |
| 132 |
Qatar |
0.66 |
| 133 |
Austria |
0.65 |
| 134 |
Panama |
0.61 |
| 135 |
Portugal |
0.59 |
| 136 |
Seychelles |
0.55 |
| 137 |
Italy |
0.47 |
| 138 |
Germany |
0.45 |
| 139 |
Bahamas, The |
0.42 |
| 140 |
Korea, Rep. |
0.40 |
| 141 |
Switzerland |
0.39 |
| 142 |
Netherlands |
0.39 |
| 143 |
Malaysia |
0.38 |
| 144 |
Spain |
0.37 |
| 145 |
Denmark |
0.36 |
| 146 |
United Arab Emirates |
0.33 |
| 147 |
Congo, Rep. |
0.28 |
| 148 |
 Macao SAR |
0.27 |
| 149 |
Finland |
0.25 |
| 150 |
 Iraq |
0.25 |
| 151 |
New Zealand |
0.23 |
| 152 |
Brazil |
0.22 |
| 153 |
Greece |
0.22 |
| 154 |
South Africa |
0.21 |
| 155 |
Norway |
0.20 |
| 156 |
Israel |
0.18 |
| 157 |
China |
0.17 |
| 158 |
Uruguay |
0.17 |
| 159 |
Argentina |
0.16 |
| 160 |
United Kingdom |
0.13 |
| 161 |
Japan |
0.12 |
| 162 |
Hong Kong SAR |
0.11 |
| 163 |
Ireland |
0.11 |
| 164 |
Australia |
0.10 |
| 165 |
Russian Federation |
0.09 |
| 166 |
Kazakhstan |
0.08 |
| 167 |
Maldives |
0.08 |
| 168 |
Turkiye |
0.07 |
| 169 |
Malta |
0.06 |
| 170 |
Angola |
0.05 |
| 171 |
Canada |
0.04 |
| 172 |
Oman |
0.04 |
| 173 |
Chile |
0.03 |
| 174 |
Saudi Arabia |
0.03 |
| 175 |
United States |
0.03 |
| 176 |
Kuwait |
0.01 |
| 177 |
Papua New Guinea |
0.01 |
| -- |
Togo |
8.69 (2020) |
| -- |
Tonga |
42.61 (2023) |
| -- |
 Tuvalu |
4.16 (2023) |
| -- |
Bhutan |
3.58 (2023) |
| -- |
 Syrian Arab Republic |
2.64 (2010) |
| -- |
Vanuatu |
18.75 (2022) |
| -- |
Yemen, Rep. |
15.89 (2018) |
| -- |
 Afghanistan |
1.87 (2023) |
| -- |
 San Marino |
1.10 (2023) |
| -- |
Palau |
0.80 (2023) |
| -- |
 Turks and Caicos Islands |
0.57 (2018) |
| -- |
Iran, Islamic Rep. |
0.55 (2004) |
| -- |
Venezuela, RB |
0.25 (2016) |
| -- |
 Cayman Islands |
0.15 (2023) |
| -- |
Gabon |
0.13 (2015) |
| -- |
Libya |
0.03 (2006) |
| -- |
Iran, Islamic Rep. |
No Data |
| -- |
 World |
0.82 |
Remittance dependence is highest in smaller or lower-income economies where a significant share of the workforce migrates abroad. The money sent home supports household spending, education, housing, and basic consumption, giving remittances an outsized role in the domestic economy.
This reliance can be a double-edged sword. While remittances are often more stable than foreign investment during downturns, countries that depend on them are more exposed to changes in host-country labor markets, migration policy, and transfer costs.
Interestingly, some of the world’s largest recipients of remittances, like India, Mexico, and the Philippines, do not rank as highly when measured as a share of GDP. For example:
Simply put: large economies have more diversified sources of income, diluting the relative impact of remittances.
Despite their importance, remittances can come with high transaction costs. In fact, some countries face the highest remittance fees globally, reducing the amount families ultimately receive.
Lowering these costs remains a key goal for policymakers and international organizations, as even small reductions can significantly boost household income in remittance-dependent nations.
To explore how money moves across borders, check out Global Remittance Flows on the Voronoi app.
