Annual value of outgoing and incoming remittance flow in Brazil 2021, by country
Japan played a substantial role for Brazilians when it came to either receiving or sending money abroad in 2021. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Brazil, the top five recipient countries for remittances in 2021 included Japan, Portugal, Spain, France, and Italy. Brazil's five main sources for remittances were the United States, Japan, Portugal, Italy, and Spain.
