Remittance income has already exceeded the figure for the whole of 2020 | Finance | Economie

Confirming the trend of the past two years and reaffirming in the midst of the economic crisis that generated the epidemic, Colombian workers abroad continued to send their income from work into the country and at the end of October the total amount already exceeded the total income for the whole of 2020.

At the end of the tenth month of the year, the total income of remittances amounted to 6,948 million US dollars. A figure that is more than $40 million more than the figure that entered 2020, when they also set a record.

According to figures released by the Banco de la República, remittances of $664 million reached the country during October, the third lowest amount during the year, although this number exceeded last year’s total.

Already at the end of the third quarter of this year, when these transfers closed at 6,284 million USD, The 2020 annual record was expected to be surpassed in October, as has already happened.

With the amount accumulating as of last October, remittance income to Colombia was 23.3% higher than it was in the first ten months of 2020, when it was 5635 million US dollars, according to Bank of the Republic statistics.

This also represents That on average, during the first 304 days of 2021, $22.85 million per day arrived in the country.

So far this year, the month with the most transfers was March with $795 million, Which was also the historically highest number of such remittances arriving from Colombians abroad.

The figure received for remittances last October (664 million USD) is 2.78% higher than the figure entered the same month in 2020, when it was 646 million USD.

It should be noted that the amount entered into remittances during 2019 was $6,733 million.

for transfers, the main countries of origin were the United States, Spain and Chile, according to Banco de la República.

In the United States, there are approximately 50% of the Colombian immigrant population and with millionaire plans to help the unemployed, immigrants have been favored and with it a portion of these resources are sent to Colombia.

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