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Financial capital

Financial capital is mostly earned through remittances. Remittances are the transnational exchange of funds earned by migrants working abroad. In recent years, they have become an important global economic resource. In the 1990s, the estimated value of remittances doubled to over $105 billion each year. The United Nations estimates that the annual figure is around $232 billion, but the unofficial flow is unknown; it is possible that more than half of the remittances earned go unrecorded each year. Remittances vary in the channels used to transfer money, the amount transferred, and the manner in which the money is invested, saved, and consumed. There is evidence that circular migrants are able to send back greater remittances than permanent migrants.