EU personal transfers hit record outflows in 2022

Outflows of personal transfers from the EU (i.e. transfers sent by migrants in the EU to their home economies) have grown continuously since 2014, reaching a record level of €43.5 billion in 2022, an increase of 13.9% since 2021 (€38.2 billion). 

The largest share of these outflows was directed to non-EU European countries, accounting for 22% (€9.6 billion) of the total outflows from the EU, followed closely by Asia (excluding the Near and Middle East) with 20% (€8.6 billion) and North Africa with 19% (€8.2 billion).

This information comes from data on personal transfers and compensation of employees published by Eurostat. The article presents a handful of findings from the more detailed Statistics Explained article. 

Source dataset: bop_rem6

On the other hand, inflows of personal transfers to the EU have only grown slightly since 2014, from €11.6 billion to €13.5 billion in 2022, resulting in a negative balance of €30.0 billion for the EU with the rest of the world. 

Non-EU European countries were responsible for 51% of total inflows to the EU (€6.7 billion). The second main provider of personal transfers to the EU was North America with 20% (€2.6 billion), followed by Central and South Africa with 10% (€1.4 billion).

Source dataset: bop_rem6