14.Dec .2021 19:30

EU Residents Sent €34.1 Billion in 2020 to Non-EU Countries

EU Residents Sent €34.1 Billion in 2020 to Non-EU Countries
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In 2020, flows of money sent by residents of the EU to non-EU countries, referred to as personal transfers, amounted to €34.1 bn, a 3% increase compared with €33.2 bn in 2019. The majority of personal transfers consist of flows of money sent by migrants to their country of origin. Inflows to the EU totalled €12.0 bn, a 6% decrease compared with the €12.8 bn registered in 2019.

This information comes from data published by Eurostat today. The article presents a handful of findings from the more detailed Statistics Explained article, EUROSTAT reports. 
The extra-EU outflows have maintained a growing trend since 2015, having increased by 33% since that year. But, as the inflows have remained constant, this has resulted in an increased negative balance of €22.1 bn for the EU vis-á-vis non-EU countries in 2020. 

In 2020, Croatia (2.7%), Romania (1.4%) and Latvia (1.3%) generated surpluses of personal transfers that contribute to more than 1% of their respective GDP. In contrast, France and Spain generated deficits of personal transfers representing -0.5% of their respective GDP vis-à-vis the rest of the world.