EU residents sent €34.1 billion in 2020 to non-EU countries

BRUSSELS, In 2020, flows of money sent by residents of the EU to non-EU countries, referred to as personal transfers, amounted to €34.1 bn, a 3% increase compared with €33.2 bn in 2019, according to Eurostat.

The majority of personal transfers consist of flows of money sent by migrants to their country of origin. Inflows to the EU totalled €12.0 bn, a 6% decrease compared with the €12.8 bn registered in 2019.

The extra-EU outflows have maintained a growing trend since 2015, having increased by 33% since that year. But, as the inflows have remained constant, this has resulted in an increased negative balance of €22.1 bn for the EU vis-á-vis non-EU countries in 2020, Eurostat noted.

Source: Emirates News Agency