By Sebastián Osorio Idárraga
In the fourth quarter of 2022, Ecuador received US$1.286 billion in remittances, an increase of 3.09% compared to the third quarter of the same year and 4.07% compared to the same period of 2023.
Thus, the country closed 2022 with a growth of 8.73% compared to 2021, receiving US$4.743 billion, a record figure led by the United States, from where 70% of remittances arrived the previous year.
According to the Central Bank of Ecuador (BCE) report, the country received 15,015 remittances last year, with an average dollar amount per wire of US$316, the same figure for 2021 and, again, the best average since 2015 (US$300).
HOW DID REMITTANCES BEHAVE BY COUNTRY?
From the United States, US$3,308 billion arrived in Ecuador in 2022, 69.73% of the total received and 19.49% more than in 2021.
In addition, “the flow of remittances from Spain, in 2022, totaled US$782.96 million.”
‘The flow of remittances from Italy in 2022 totaled US$171.44 million (3.61% of the amount received), which experienced a decrease of 9.81% compared to the value recorded in 2021″.
The ECB also explained that the measurement of the flow of remittances corresponding to 2022 showed the presence of Ecuadorian emigrants in Latin American countries such as Mexico, Chile, Peru, Canada, and Colombia, contributing 5.42% of remittances received (US$257.18 million).
“Likewise, from the United Kingdom, Switzerland, Germany, France, and Belgium, 2.92% (US$138.27 million) of the total flow of remittances were received” was specified.
WHAT HAPPENED TO REMITTANCES?
From the country, on the other hand, US$630.53 million in remittances were sent in 2022, also an increase compared to the previous year of 5.96%.
“In 2022, US$481.60 million were sent to Colombia, Mexico, and Peru as remittances, representing 76.38% of the total sent abroad, derived from economic activities in services, commerce, hotels, and hotels and restaurants, among others,” the report highlighted.
The provinces that sent most of this money abroad were Pichincha, Guayas, Azuay, and Manabí.
With information from Bloomberg