A new report published by the Inter-American Development Bank (IDB) reveals that Peru is the ninth country that receives the most remittances from migrants in Latin America and the Caribbean, and the fourth only in South America.
According to the report prepared by René Maldonado and Jeremy Harris, in the first half of 2023, Peru received remittances for a total of US$4,241 million, below countries in the region such as Colombia (US$10,202 million), Ecuador (US$5,315 million). and Brazil (US$4,304 million).
However, it remains above Bolivia (US$1,586 million), Argentina (US$1,500 million), Guyana (US$1,118 million), Paraguay (US$594 million), Chile (US$367 million), Suriname (US$149 million) and Uruguay (US$131 million). There is no data from Venezuela.
Where were the most remittances sent to Peru from? According to the report, 56.5% came from the United States; 13.2%, from Argentina; 11.3%, from Chile; 12.3% from Spain; 4.2%, from Italy; and 2.6%, from other countries.
IDB: record remittances in Latin America and the Caribbean in 2023
At the regional level, IDB assures that, during 2022 and 2023, the remittance flows received by the countries in the region continued to grow at rates of 10.7% and 9.5% respectively.
“The data available on remittances sent to the countries of Latin America and the Caribbean in 2023 allow us to project that they will increase 9.5% in 2023, which represents a consolidation of the trend that existed in the pre-pandemic years,” the report states.
The exchange rate data indicate that, in aggregate, the currencies of Latin America and the Caribbean would have appreciated by 2.7%, and that prices would have grown by 5.1%, which led to the growth of Remittances will be affected, losing their purchasing capacity by 11.1% in that period.
Furthermore, in 2023 the South American region was the recipient of 18.9% of the remittances that arrived in the region, a slightly lower share (-0.3%) than that observed in the previous year.
If the IDB forecasts are met, this would imply an income close to US$156,000 million by the end of 2023. In 2022, remittances to the region were US$142,400 million.
Source: Larepublica
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