Transfers sent by migrants in the EU to their home economies

09:01 Thu, 23 March

GEO

USD

$ 2.5754

EUR

€ 2.7778

GBP

£ 3.1644

RUB

₽ 0.0334

TRY

₺ 0.0014

AZN

₼ 0.0152

XRP

0.4210

27.Jan .2023 22:00

Transfers sent by migrants in the EU to their home economies

481

Back

Extra-EU outflows of personal transfers (i.e. transfers sent by migrants in the EU to their home economies) have displayed a growing trend with an overall increase of 47% since 2015, EuroStat reports.

In 2021, extra-EU personal transfers amounted to €37.7 billion and were directed mostly to North Africa with 22% of total extra-EU outflows (€8.0 billion), followed by Asia (excluding the Near and Middle East) with 21% (€7.8 billion) and non-EU European countries with 19% (€7.1 billion).

On the other hand, extra-EU inflows have remained at a rather constant level with €13.0 billion, resulting in a negative balance of €24.7 billion for the EU with the rest of the world. Non-EU European countries are responsible for 54% of total extra-EU inflows (€6.8 billion). The second main provider of personal transfers to the EU is North America with 20% (€2.5 billion), followed by Central and South Africa with 8% (€1.0 billion).