Business

Colombia receives $3.78B in remittances

posted by Toni Peters

economy

Colombia has received $3.78 billion through remittances from Colombian workers sending money back home, according to central bank figures up to November 2011, reported newspaper El Espectador Wednesday.

The amount of remittances has grown by 5.1% compared to to 2010, when Colombians abroad sent home $3.6 billion

In the report Balance of Payments of the Central Bank, figures indicate that income from remittances up to September 2011 came to $3.063 billion which represents 1.2% of GDP.

To September there was an annual increase of 6.3% as a result of an increase in remittances from the United States and Venezuela.

The report shows that in the first six months of year, Colombia received $670 million in remittances from Spain, $652 million from the United States and $229 million from Venezuela.

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User Name: Toni Peters
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