Remittances to Latin America and the Caribbean in 2018

Remittances to Latin America and the Caribbean

Family remittances to Latin America and the Caribbean reached $85 billion in 2018, an important financial flow and a critical source of support for many households in the region. Each year, the Inter-American Dialogue analyzes remittances to the region, identifying areas of growth and new trends that are impacting how people send and receive money. The data presented draws from official sources, such as Central Banks, as well as from original survey data with remittance senders and recipients. Taken together, they shed light on the complex, deep, and very dynamic connections that migrants maintain with their home countries.

Remittances to the Latin American and Caribbean region are on the rise. They grew 10.2% in 2018, up from 8.2% in 2017 and 7.9% in 2016. Moreover, the strong growth levels for remittances stand in stark contrast to the sluggish 1.9% economic growth rate for the region. The countries with the highest remittance growth rates in 2018 included Haiti, Colombia, Guatemala, and Brazil.

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