Annual value of outgoing and incoming remittance flow in Colombia 2021, by country

All figures are estimates and have been calculated by the source using migrant stocks from 2021. The source adds the following information:

• No numbers are available for Venezuela;
• Due to political and economic situations, the flows between certain countries were 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.

The source uses the definition of remittances set in BPM 6 - the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual. Personal remittances refer to the sum of "personal transfers", "compensation of employees" - both of which are available for calculation - and "capital transfers between households" and is not the same as total remittances. However, due to limited data tracking on remittances, there is no value difference between personal remittances and total remittances, despite the technical difference.