Remittances from Malaysian Migrant Workers to Indonesia in Q1 2022

Employment

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Viva Budy Kusnandar 15/07/2022 12:00 WIB

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In the first quarter of 2022, remittances from Indonesian migrant workers in Malaysia reached US$638.35 million, or approximately Rp9.25 trillion (assuming an exchange rate of Rp14,500 per US dollar).

Top 10 Source Countries of Remittances for Indonesian Migrant Workers (Q1 2022)

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Remittances from Malaysian Migrant Workers to Indonesia in Q1 2022

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Top 10 Source Countries of Remittances for Indonesian Migrant Workers (Q1 2022)

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Indonesian Migrant Workers (IMWs) are foreign exchange earners for the country. The fruits of their labor contribute hundreds of trillions of rupiah to the Indonesian economy annually.

Throughout 2021, remittances or money sent by IMWs from abroad to their families in Indonesia reached US$9.16 billion, equivalent to Rp133 trillion (assuming an exchange rate of Rp14,500/US dollar).

According to Bank Indonesia (BI) data, in the first quarter of 2022, remittances reached US$2.35 billion, or approximately Rp34 trillion. This represents a 3.7% increase compared to the first quarter of the previous year (year on year/yoy).

In the first quarter of 2022, the largest amount of IMW remittances originated from Saudi Arabia, reaching US$706.83 million, or approximately Rp10 trillion (assuming an exchange rate of Rp14,500/US dollar). This constitutes 30.14% of total IMW remittances during that period.

Remittances from Malaysia ranked second, totaling US$638.35 million, or approximately Rp9.25 trillion (assuming an exchange rate of Rp14,500/US dollar).

In mid-July 2022, the Indonesian government decided to temporarily halt the placement of IMWs in Malaysia.

This decision was made because Malaysia was deemed to have violated a previously agreed-upon agreement that the recruitment of IMWs should be conducted through Indonesia's One-Channel Placement System (SPSK). However, the recruitment of IMWs in Malaysia was still using the country's own System Maid Online (SMO).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."