EU emigrants send more than €39 bn to their homelands in 2011

When it comes to the EU, the amount of money sent home by emigrants in 2011 reached €39.1 bn, according to Eurostat data.

According to European statistics, a 2% increase in money sent from abroad back home is reported, compared to the previous year. An interesting fact is that a large share of the cash flow goes to countries outside the EU - around 75%.

Thus, in 2011, the absolute value of this share amounted to €28.5 bn (a 3% growth), while the share of money sent by emigrants from one EU Member State to another amounted to €10.7 bn.

The largest share of money sent back home came from France - up to €9.7 bn, or a quarter of the total volume of all money sent home by emigrants in the EU. From Italy to other countries, emigrants sent €7.4 bn, or 19% of the total volume, from Spain - €7.3 bn, from Germany - €3 bn, and from the Netherlands - €1.5 bn. France reported a decrease of funds flowing out of the country compared to 2010, while Italy and Spain reported a rise. Especially in Italy, the rise was significant - nearly €1 bn.

Bulgaria ranks second to last in terms of cash outflow sent by immigrants permanently working in our country. The total volume of funds sent amounted to €7 mln, as €2 mln were sent to another European country and €5 mln - to a country outside the EU. In our country, there is no increase in the funds flowing out of Bulgaria, but a redistribution - more money was sent to other EU Member States, compared to 2010.

By comparison, Greece reported a €922 mln cash outflow and Romania - €168 mln. Both countries noted a decrease of money sent back home - by €159 mln in Greece, and by €38 mln in Romania.

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