Angola is third-biggest source of emigrant remittances to Portugal

22 February 2012

Lisbon, Portugal, 22 Feb – Angola is currently the third main source of remittances from Portuguese emigrants and accounted for 147 million euros entering the Portuguese economy in 2011, according to figure published this week by the Bank of Portugal (BdP).

In a year in which total remittances from Portuguese emigrants remained almost the same as in 2010, the amount sent by Portuguese people residing in Angola rose by almost 10 percent.

In the figures from the BdP, remittances from Portuguese emigrants to Angola in 2011 were substantially more than those from traditional Portuguese emigration markets, such as the United States (130 million euros), Germany (113 million), Luxembourg (68 million) or Canada (40 million).

The main sources of remittances from emigrants continued to be France and Switzerland, two countries that together accounted for over half the cash sent to Portugal in 2011, with 868 million euros in France’s case and 681 million euros in Switzerland’s case.

The European Union countries continue to account for just over half the remittances sent by Portuguese emigrants, but the value of intra-EU transfers fell from 2010 (1.413 billion euros) to 2011 (1.354 billion euros). (macauhub)