Published on Friday, March 1, 2024

Colombia | Remittances, the extra income that balances the pockets of families.

Remittance income in Colombia reached US$10,091 million in 2023 and represented 2.8% of GDP. This external income should be taken full advantage of, as it materializes in greater opportunities to cover basic expenses, pay for education and contribute to the well-being of Colombian households.

Key points

  • Key points:
  • Remittance revenues are not at all insignificant, in 2023 they represented 65% of the revenues obtained from oil and oil derivatives exports and one fifth of total exports of goods.
  • The United States and Spain account for 66.6% of remittances sent to Colombia, and Valle del Cauca, Cundinamarca and Antioquia are the main receiving departments, accounting for 58.1%.

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