The amount is equivalent to 1.8% of GDP at the end of the first quarter, the BCRP reported. The recovery of employment in the United States increased the flow of remittances.
According to the Central Reserve Bank of Peru (BCRP), remittance shipments to Peru amounted to US$1,193 million in the first quarter of this year: 19.9% more than in the same period of 2023.
In amounts, compared to the first quarter of 2023, there is an increase of US$198 million and US$296 million in 2022 (see graph).
Variation in the flow of remittances sent to Peru. Photo: BCRP
The BCRP notes that remittances account for 1.8% of GDP, slightly higher than in previous quarters.
Likewise, the issuing entity projects that for this year, The total remittances destined for Peru will increase, and go from US$4,446 million in 2023 to US$4,748 million. By 2025, they aim to move US$4,891 million.
“They play a crucial role in the country’s economy, allowing people and professionals not only to cover immediate needs, but also to invest in their future and improve their quality of life,” adds María José Artacho, Country Manager of Global66 in Peru.
On the other hand, from Global66, they noted that between January and March of this year, Peruvians increased the sending of remittances abroad by 126%: from US$9.5 million to US$21.5 million.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
