International labour migration and remittances: theoretical and practical aspects
ENAccording to the recent data of The World Bank there are more than 215 million international migrants in the world. Recorded remittances received by developing countries estimated to be US$325 billion in 2010, constitute more than 10 % of gross domestic product (GDP) in many developing countries. Migration flows from Latvia, Lithuania and Estonia to more developed countries have been increased since 1st May of 2004, when Baltic countries joined the European Union. Increase of inwards remittances from Baltic emigrants has been also observed in the past several years. Taking into account rather big amounts of remittances transferred into Baltic countries every year it is possible to assume, that these financial flows have a considerable impact on Latvian, Lithuanian and Estonian economics. Proportion of remittances from the GDP in all Baltic countries varies from 1,7 to 3,7 %, when relatively lower part of remittances is observed in Estonia, and relatively higher - in Latvia and Lithuania. Evaluating remittances as a share of export, the author shows following results: 2-3 % in case of Estonia, 5-7 % in Lithuania and 4-4,5 % in Latvia. Author concludes that mentioned estimates do not show very high impact of remittances on the national economies of the Baltic countries. However, these financial flows are big enough to be followed and researched now and in the future. Key words: international labour migration, remittances, transfers.
