Bank data show cross-border remittance flows rising

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Sor Chandara

Cross-border remittance transfers continue to rise despite slower growth in Asian economies as more Cambodians seek work abroad to support their families back home, an economist said yesterday, commenting on recent data.

Worker remittances, which comprise personal transfers by migrant workers to their households back home, doubled last year and continue to grow.

Cambodian migrant workers sent the equivalent of $363 million home in 2014, up from $167 million a year earlier, according to central bank figures. Worker remittances amounted to $110 million in the first quarter of 2015, putting the year on course to top $450 million.

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