Portuguese American Journal

Portuguese emigrants sent home over $3.4 billion – Portugal

According to the Bank of Portugal, in 2010 Portuguese emigrants worldwide sent home over 2,403 billion euros ($3,460 USD billion) — more 122.03 million euros ($175,7 USD million) than in 2009.  It is estimated that over five million Portuguese live abroad.

France, with remittances reaching 899.16 million euros ($1, 294, 6 USD billion), remains the country from where more money was sent back home in 2010, representing an increase of 11.71 million euros ($16, 86 USD million), after a decrease of almost 95 million ($136, 8 USD million) in 2009.

The largest increase in remittances (12.26 percent) came from Portuguese emigrants in Switzerland, totaling 590.66 million euros ($850, 76 USD million), more 59.78 million euros ($86,1USD million) than in the previous year.

 Remittances from Luxembourg also increased about 2.2 million ($3, 17 USD million), reaching 84.47 million euros ($121, 6 USD million).

 The Portuguese in Germany sent 120.4 million euros ($173,3 USD million) back home, while those in the United Kingdom sent  94.6 million ($136,2USD million), figures almost identical to 2009.

 Across the Atlantic, the Portuguese in the United States sent 129.98 million euros ($187, 2 USD million) back home, while those in Canada sent 46.25 million euros ($66, 6 USD million).

 Portuguese emigrants in Brazil sent 10.59 million euros, ($15, 25 USD million) to Portugal, while those in Venezuela sent 15.78 million euros ($22, 72 USD million) in 2010.

 Among the countries of the European Union, the Portuguese in Spain sent fewer remittances home compared with the previous year — 111.03 million euros ($159,85 USD million) in 2010 — representing 11.71 million ($16,86USD million) less than in 2009.

The remittances from immigrants in Portugal to their countries of origin also increased in 2010, to 567.34 million euros, ($816, 73 USD million) – reversing the down trend in 2009 when it decreased to 559.2 million euros ($804,76 USD million).

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