Portuguese American Journal

Remittances: Portuguese abroad sending more cash home – Portugal

Data from the Bank of Portugal has revealed that remittances from the Portuguese living abroad have increased 12,6%, between January and October of 2012, accounting for a total of € 2,254 million, representing € 253 million more over the same period of 2011.

France (€718,934 million) and Switzerland (€540,870 million) are the main sources of remittances from Portuguese emigrants, representing 50% of the total remittances. Remittances from the Portuguese in Germany have also increased 54% in 2012, toa  total of €142 million compared to € 92,168million in 2011.

Remittances from the Portuguese in Angola have increased 48%, to €219 million in 2012, compared to € 150 million in 2011. Angola is currently the third main source of remittances from Portuguese emigrants while the remittances from the Lusophone African countries (PALOP) has amounted to for €225 million.

The Portuguese in the United States have also increased their level of remittances to €113,922 million, in 2012, compared to €108,373 million in 2011. An estimated 5 million Portuguese nationals reside abroad, of which 1.3 million are of Portuguese and their descents in the in the United States.

Data from the Bank of Portugal also revealed that remittances from immigrants in Portugal to their countries of origin has accounted for €437 million. Brazil is the largest beneficiary, receiving €190 million, followed by France with €170 million. Remittances to China came second, followed by Ukraine.

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General Information on PortugalOfficial Name: Portuguese Republic – Government Type: Parliamentary democracy – Population: 10,642,836 – Area: 92,391 sq. km., including the Azores and Madeira Islands; slightly smaller than Indiana – Languages: Portuguese – Literacy: Total population: 93.3%; Male: 95.5%; Female: 91.3% – Year of Independence: 1143