Remittances sent to Latin America went largely towards Guatemala and the Dominican Republic in 2021, with each country receiving at least 10 billion billions worth of dollars. This is according to a database that tries to model money sent internationally from one party to another. Remittances typically refer to money sent from migrant workers back home to family and friends, although there are other forms of this. Remittances can, for example, include pensioners who have a second home in foreign country. Nevertheless, Asia Pacific - not Latin America - is often referred to as the main receiver of remittances.
Top remittance receiving countries and territories in Latin America, inflow by sending region in 2021
(in million U.S. dollars)
Antigua and Barbuda, Argentina, Bermuda, Bolivia, Brazil, Belize, Chile, Colombia, Costa Rica, Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Panama, Paraguay, Peru, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Uruguay
Survey time period
December 2022
Special properties
Remittance figures have a publication delay. Numbers cover 2021, but were reported in late 2022. As of November 2024, it is unclear when numbers will update - as the KNOMAD program also has been discontinued; All numbers are in current (nominal) U.S. dollars; See the "Details" tab for more information on the source methodology.
Supplementary notes
Regional figures were collected and calculated by Statista.
The source adds the following information:
No numbers are available for Venezuela;
Due to political and economic situations, the flows between certain countries was considered to be 0 (zero). These countries included: India and Pakistan (and vice versa), Lebanon and Israel (and vice versa), and Azerbaijan and Armenia (and vice versa);
The source emphasizes several times that the numbers provided are estimates, as the data suffers from several issues. These relate to, for example, the frequency of migrant data updating per country, the lack of data on informal money transfers or the possibility of retirees moving abroad but then withdrawing savings from their country of origin.
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Statista. (December 17, 2022). Top remittance receiving countries and territories in Latin America, inflow by sending region in 2021 (in million U.S. dollars) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1387886/remittances-to-latin-america-countries/
Statista. "Top remittance receiving countries and territories in Latin America, inflow by sending region in 2021 (in million U.S. dollars)." Chart. December 17, 2022. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1387886/remittances-to-latin-america-countries/
Statista. (2022). Top remittance receiving countries and territories in Latin America, inflow by sending region in 2021 (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1387886/remittances-to-latin-america-countries/
Statista. "Top Remittance Receiving Countries and Territories in Latin America, Inflow by Sending Region in 2021 (in Million U.S. Dollars)." Statista, Statista Inc., 17 Dec 2022, https://www.statista.com/statistics/1387886/remittances-to-latin-america-countries/
Statista, Top remittance receiving countries and territories in Latin America, inflow by sending region in 2021 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1387886/remittances-to-latin-america-countries/ (last visited December 21, 2024)
Top remittance receiving countries and territories in Latin America, inflow by sending region in 2021 (in million U.S. dollars) [Graph], Statista, December 17, 2022. [Online]. Available: https://www.statista.com/statistics/1387886/remittances-to-latin-america-countries/
