Brazilian Emigrants Send US$ 6.4 billion Back Home. Only Mexicans Send More.

Funds sent to relatives of Latin American and Caribbean workers who live abroad broke a record and reached US$ 53.6 billion last year, which represented an increase of almost 17% in relation to 2004.

Brazil was the country that received the second greatest volume of dollars from emigrants, US$ 6.4 billion, an increase of 14% in comparison to the previous year, according to figures in the Multilateral Investment Fund of the Inter-American Development Bank (IDB).

The country that received the greatest volume of funds was Mexico, with US$ 20 billion, 20% more than in 2004, and Colombia was in third place, US$ 4.1 billion. Around 25 million adults born in Latin America and the Caribbean live abroad.

From Brazil, the estimate is that the total is approximately 2 million. Almost two thirds of the residents send money to their countries of origin periodically. According to the report, transfers range from between US$ 100 and US$ 300 a month per emigrant.

The funds sent come mostly from workers who live in Japan, Europe and the United States. From the United States alone come around US$ 40 billion of the total sent in 2005.

According to the report, the funds have been growing in recent decades, even exceeding the foreign assistance for development donated by other countries to the countries in Latin America and the Caribbean.

The president of the IDB, the Colombian Luis Alberto Moreno, stated that the institution started studying the entry of these funds five years ago, aiming at finding cheaper ways to execute transactions between banks and governments in the region. This way, average costs have been cut to half, making it possible for emigrants and their relatives to save more money.

Despite the reduction in costs, the IBD estimates that less than 10% of the Latin Americans and Caribbean residents who receive funds have access to savings accounts, loans to small businesses or housing credits.



  • Show Comments (3)

  • huh?

    money going to latin america and the caribbean totalled $53 billion; of that $40 billion came from the US; of that $6 billion was from brazilians.

  • Guest

    With some mistakes…again !
    If money coming from the USA alone totalled $ 40 billions how could anyone finds that money coming from everywhere totalled only $ 6.4 billions ???

    Brazilian maths or Brazilian made spreadsheets ?

  • Guest

    Imagine what we could do with that money if it actually stayed in our own country? Brazilians = Parasites!

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

Agronomist Warns Brazil Will Need More Agrochemicals for Its GM Soy

After a few years of planting genetically-modified (GM) soy, Brazilian farmers are going to ...

Death in the Afternoon

As Josimo approaches Augustinópolis he remembers his friends’ repeated warnings. “For God’s sake drive ...

Brazil Tells Africa: You Can Count on Us at UN

At the close of an eight-day trip to Africa, the Brazilian Minister of Foreign ...

Killing in the London Tube: Brazilians Want Justice Not Apology

The media and political establishment have closed ranks following the death of a Brazilian ...

Director José Joffily on Who Killed Pixote?

Pixote is a 1981 disturbing film story about a criminal child in the streets ...


Always in shirt sleeves, without Sunday or holiday, not missing any occasion to steal ...

Brazil Worried International NGO’s Want to Take Over the Amazon

The 10th National Conference of State Legislatures, which began in Brazil Wednesday, May 17, and ...

Brazil: Unions Pass the Hat to Pay Lula’s Fine for Violating Electoral Law

The Superior Electoral Tribunal of Brazil, the TSE, again fined Brazilian president Luiz Inácio ...

No Indian Candidate, Among 24, Won in Brazil’s October 1st Election

In the elections held on October 1st, in Brazil, five indigenous people ran for ...