Emigrants’ remittances hit all-time record of €3.677B in 2021
July was the most profitable month, in terms of incoming remittances, with emigrants sending €366.8 million, the highest monthly figure since July 2019.
Remittances from emigrants grew 1.8% to break the 2001 all-time record, reaching 3.677 billion euros in 2021, according to data from the Bank of Portugal.
According to Bank of Portugal figures, obtained from the statistical series of the National Institute of Statistics, and available on the financial regulator’s website, Portuguese emigrants made the largest contribution since 2001, by sending 3.677.7 billion euros last year, which gives an average of 306.48 million euros per month, and represents a rise of 1.79% compared to the 3.612.8 billion sent in 2020.
July was the most profitable month, in terms of incoming remittances, with emigrants sending €366.8 million, the highest monthly figure since July 2019.
In terms of the countries that contributed most to this historic result, Switzerland and France stand out, as usual, worth over €2 billion in remittances sent to Portugal.
Portuguese emigrants in Switzerland sent €1.051 billion during the past year, while emigrants based in France sent €1.023 billion to Portugal, with the UK and Angola taking third and fourth place on the list of the largest contributors of remittances.
