of foreign workers residing in the U.S. torelatives in their countries of origin. In 2007, private remittances were about$36 billion. For some countries, net receipts of remittances can represent asubstantial source of foreign e. For example, in 2004 Mexico receivedabout 2.5 percent of GDP remittances. This source of e wasresponsible for the fact that in that year Mexico’s current account de?cit wassmaller than its trade de?cit, despite the fact that Mexico,being debtorto the rest of the world, had to make large international interest unilateral transfers have been negative ever since the end of WorldWar II, with one exception. In 1991, net unilateral transfers were positivebecause of the payments the U.S. received from its allies pensationfor the expenses incurred during the Gulf war.
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