Colombians on top of remittances from Chile

Immigrants who reside in Chile monthly make about 600,000 transactions of money abroad, with an average of 220 dollars. Colombians send around 416 dollars per month, the highest figures in remittances

The Brazilians and Bolivians also transfer considerable amounts of money: around 317 dollars and 223 dollars per month respectively. The Dominicans send 151 dollars, the Peruvians 175 and the Haitians represent the lowest figure with 109 dollars in the same period of time.

It is expected that the total amount of foreign currency sent abroad in 2019 exceeds 1,800 million dollars. This figure represents an increase of 20% compared to last year. The figure place Chile as a leader in the region, followed by Panama, as a nation that registers 800 million dollars annually.

The data also show the increase in immigration in Chile. The rest of the countries of the continent are net recipients of foreign currency, led by Mexico with almost 3.5 billion dollars. In turn, Haiti is the largest recipient, remittances account for 39% of its GDP.

Haiti is followed by countries such as El Salvador and Honduras. For its part, Venezuela – given the economic crisis and high rate of people who have emigrated – also occupies a privileged place among the countries that receive the largest amount of remittances. However, there is no official information on this.

It is worth emphasizing that the dynamism of the money remittance market abroad was analyzed within the framework of the First Latin American Meeting of Immigration and Money Transfers. The event brought together remittance companies, banks, embassies, auditors, insurance companies, pension funds, government agencies and international organizations.


Source: El Economista

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