Brasília – Remittances from Brazil surpassed USD 1 billion in the year’s first half. It’s the highest value (USD 1.063 billion) ever recorded for the period in the historical series of the Brazilian Central Bank (BC), which began in 1995. In comparison to 2017’s first half (USD 935.7 million), it climbed 13.6%.
This volume is boosted by the increase in numbers of Brazilian studying or living abroad, in search of new opportunities. The sharpest growth was registered in remittances to Portugal and Canada, 230.7% and 228.4%, respectively.
Among the countries listed in the BC’s data, the US (-47.9%) was the only one with a decline in remittances from Brazil. To the other countries, there were sharp increase in remittances: Germany (188.6%), Italy (99.3%), Spain (94.8%), United Kingdom (84.5%) and France (79.5%).
Individual money transfers to Brazil also registered a growth. They reached USD 1.271 billion in the year’s first half, a 12.48% hike over the same period of 2017. Most of this volume, 41% (USD 523.2 million) came from the United States, boosted by the dollar’s appreciation.
Translated by Sérgio Kakitani
