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Iran’s remittance outflow, inflow increase

Business Materials 22 July 2016 18:13 (UTC +04:00)

Baku, Azerbaijan, July 22

By Emil Ilgar – Trend:

Iran’s both remittance outflow and inflow increased in the last five years, the Cooperatives, Labor and Social Welfare Ministry’s latest report indicates.

According to the report published on the ministry's official website, 2.6 million foreign laborers are working in Iran.

It is estimated that 2.3 million Afghan citizens are laborers in Iran, Mehr news agency reported, adding that due to the lack of demand for labor rights and insurance, low salaries, etc. more Afghans are hired in Iran.

During the last year, Iran's remittance outflow reached $241 million, of which Afghan labors’ share was 59.7 percent.

The Cooperatives, Labor and Social Welfare Ministry's website estimated that more than $2 billion remittance outflow happened in Iran during 2010-2015.

The ministry's report mostly relies on Word Bank's statistics.

According to a report of World Bank, Iran’s remittance inflow during last year reached $1.33 billion, while for 2010-2015 the figure was $7.856 billion.

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