Extra-EU outflows of personal transfers (i.e. transfers sent by migrants in the EU to their home economies) have displayed a growing trend with an overall increase of 47% since 2015. In 2021, extra-EU personal transfers amounted to EUR 37.7 billion and were directed mostly to North Africa with 22 % of total extra-EU outflows (EUR 8.0 billion), followed by Asia (excluding the Near and Middle East) with 21 % (EUR 7.8 billion) and non-EU European countries with 19 % (EUR 7.1 billion).
This information comes from data on personal remittances published by Eurostat today. The article presents a handful of findings from the more detailed Statistics Explained article.
On the other hand, extra-EU inflows have remained at a rather constant level with EUR 13.0 billion, resulting in a negative balance of EUR 24.7 billion for the EU with the rest of the world. Non-EU European countries are responsible for 54% of total extra-EU inflows (EUR 6.8 billion). The second main provider of personal transfers to the EU is North America with 20% (EUR 2.5 billion), followed by Central and South Africa with 8% (EUR 1.0 billion).
For more information:
- Statistics Explained article on personal transfers and compensation of employees
- Thematic section on the balance of payments
- Database on balance of payments