The amount of money individuals from within the EU sent to countries outside of the continent has reached an all-time high.

A staggering €32.7 billion flooded outside of the EU in 2017, compared with €10.1 bn in 2016.

According to the EU’s Eurostat website: ”The majority of personal transfers consist of flows of money sent by migrants to their country of origin.”

Largest surpluses in personal transfers

France (€10.6 bn) Spain (€7.3 bn ) the United Kingdom (€6.8 bn) and Italy (€6.1 bn).

In contrast, the highest inflows were recorded in Portugal (€3.6 bn), ahead of Poland (€3.1 bn), Romania (€2.8 bn) and the United Kingdom (€2.3 bn).

 

As a result, the largest surpluses in personal transfers were registered in 2017 in Portugal (+€3.0 bn), Poland (+€2.8 bn) and Romania (+€2.6 bn), while France (-€10.1 bn) recorded by far the largest deficit, followed by Germany (-€4.6 bn), the United Kingdom (-€4.5 bn) and Italy (-€4.0 bn).