08.Jan .2022 21:00

Remittances sent to non-EU countries by EU residents

Remittances sent to non-EU countries by EU residents
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in 2020, extra-EU personal transfers were directed equally to Asia (excluding the Near and Middle East), North Africa and non-EU European countries with 20% each of total extra-EU outflows (€6 845 million, €6 797 million and €6 526 million, respectively). South America received 14% of extra-EU personal transfers (€4 813 million), followed by Central and South Africa with 12% (€4 062 million).

Extra-EU outflows have maintained a growing trend since 2015, increasing by 33% since that year. The majority of personal transfers consist of flows of money sent by migrants to their country of origin, Eurostat reports. 

Extra-EU inflows, on the other hand, have remained at a constant level, resulting in a negative balance of €22 100 million for the EU with the rest of the world. Non-EU European countries are responsible for 54% of total extra-EU inflows (€6 273 million). The second main provider of personal transfers to the EU is North America with 19% of total extra-EU inflows (€2 188 million).