Valle del Cauca and Antioquia receive 42% of remittances

Remittances sent by Colombians abroad have been setting record figures in the last three years and according to the records of the Bank of the Republic, the departments of Valle del Cauca and Antioquia receive 42% of the total.

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The good results that the economies of the United States, Europe and Chile (the latter, which has been increasing its participation in sending these resources) have registered so far, are responsible for the good figures in remittances, which compete in volume to Foreign Direct Investment.

to the country had US$5,352 million arrived in these transfers until Julywith a growth of 10.2% compared to the same period in 2021.

But in the analysis of both the countries of origin, of which about 150 are counted, and the departments of destination, the June closing made by the Colombian issuing bank is taken into account.

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In June, the remittances that arrived in Colombia amounted to US$821 million, a figure that although it fell compared to that of May (US$841 million) in the consolidated marked a new maximum of US$4,463 million, which represented an increase of 8.4% compared to the figure reached in the same period of 2021, when US$4,116 million had arrived. Compared to 2020 it also represents an increase of 43%.

With US$1,138 million at the end of the first half of the year, The department of Valle del Cauca was consolidated as the largest recipient of remittances, which represents 25.5% of the national total.

From the United States, US$473 million in remittances from workers arrived in that department in the first six months of the year, followed by those sent by those who live in Spain, with US$188 million, and then che country of destination is Chile, with US$99 million.

Remittances worth US$33 million were sent from the United Kingdom.
From other countries they sent a total of US$342 million to Valle del Cauca in the first six months of this year.

The department of Antioquia is the second most important destination for these labor incomes of nationals from abroad, since between January and June US$754 million arrived

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When analyzing the origin of these transfers, it can be seen how the United States, leader in shipments to all departments, it even exceeds the number sent to Valle del Cauca.

Thus, in the accumulated six-month period, US$508 million arrived from that country, according to figures from the Banco de la República.

It is followed by Spain, with a total of US$76 million and Chile with US$26 million of remittances.

The third largest national destination for remittances from abroad is the department of Cundinamarca, with a total of US$739 million at the end of the first half of the year.
A total of US$435 million arrived in the department in the center of the country from the United States as of June, US$78 million from Spain and US$31 million from Chile.

As a particular fact, the figures compiled by the Banco de la República mention that US$80,000 arrived in remittances to Cundinamarca from Venezuela.

Risaralda received up to June US$234 million in remittances from workers abroad and became the fourth destination of these remittances. With US$116 million, the United States was the main destination for the department of the coffee region.

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