Pewhispanic Remittances 2013

NUMBERS, FAC CTS AND TRENDS S SHAPING THE W WORLD
2 FOR RELEASE November 15, 2013
Re emit ttan nces to o La atin Am meri ica Rec cove er bu ut Not to t Mexi M ico
FOR FUR RTHER INFORMA ATION ON THIS REPORT: DVera Co ohn, Senior Write er Ana Gonz zalez-Barrera, Res search Associate Danielle C Cuddington, Inter rn Contact: Russ Oates 202.419 .4372 www.pew wresearch.org
RECOMMEND DED CITATION: Cohn, DVera, Ana Gonzalez-Barrera G and Danielle Cud ddington. 2013. R Remittances to La atin America Recoverbut Not to Mexico. Washington, W D.C. Pew Research Ce enter, November.
1 Remittances to Latin America Recoverbut Not to Mexico
About This Report

This report examines official flows of remittances, including overall trends from 2000 to 2013 as well as contributions from the U.S. in 2005 and 2012, with a particular focus on 17 Spanishspeaking nations in Latin America: Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela. Data also are included separately about Brazil. The data in this report, both for remittances and other economic indicators, are derived from the World Bank. Data on immigrant populations in the U.S. come from the U.S. Census Bureaus American Community Survey. This report was written by DVera Cohn, Ana Gonzalez-Barrera and Danielle Cuddington. The authors thank Mark Hugo Lopez, Jon Cohen, Rakesh Kochhar, Jeffrey Passel and Paul Taylor for editorial guidance and data analysis and Dilip Ratha for supplying 2005 data about U.S. remittances to Latin America. Anna Brown number-checked the report. Marcia Kramer was the copy editor. Find related reports from the Pew Research Centers Hispanic Trends Project online at pewresearch.org/hispanic.
A Note on Terminology
The terms Latino and Hispanic are used interchangeably in this report. Unless otherwise specified, references to Latin America comprise the following Spanish-speaking countries: Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela. Cuba is not included because of lack of available data. Totals for Brazil are included separately. Remittances include money sent via formal channels by migrants themselves, as well as compensation of employees working in other countries. Compensation generally accounts for a small fraction of the total. See text box on page 6 for more detail. Adults refer to those ages 18 and older.
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PEW RESEARCH CENTER
About Pew Research Center

Pew Research Center is a nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping America and the world. It does not take policy positions. It conducts public opinion polling, demographic research, media content analysis and other empirical social science research. The center studies U.S. politics and policy views; media and journalism; internet and technology; religion and public life; Hispanic trends; global attitudes and U.S. social and demographic trends. All of the centers reports are available at www.pewresearch.org. Pew Research Center is a subsidiary of The Pew Charitable Trusts. Alan Murray, President Jon Cohen, Vice President, Research Elizabeth Mueller Gross, Vice President Paul Taylor, Executive Vice President, Special Projects Andrew Kohut, Founding Director
Pew Research Center 2013
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Table of Contents
About This Report A Note on Terminology About Pew Research Center Table of Contents 1. Overview Mexico Falls, Latin America Overall Recovers Remittance Patterns Impact and Use of Remittances Who Sends Remittances Home? 2. Remittance Trends Countries Where Remittances Fell, but Recovered Countries Where Remittances Continue to Rise Countries Where Remittances Fell and Did Not Recover Comparing 2005 and 2012 U.S. Remittances Remittances and Other Economic Indicators 3. Sources of Remittances to Latin America Remittances to Latin America from Other Countries References Appendix: Individual Country Trends 1 1 2 3 4 4 6 7 8 12 13 14 15 16 17 19 20 22 24
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PEW RE ESEARCH CENT TER
1. Ove erview
FIGURE 1
Remittanc ces to Spanis sh-speaking Latin Ame erican count tries overall have recov vered from a decline during the e recent rece ession, with the notabl le exception of Mexico, according to World Ba ank data analyzed by b the Pew Research R Center.
Total Remittanc ces Receiv ved in Latin n America and Mexic co, 2000-2 2013
In millio ons, 2013 U.S. dollars 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2000 2 2002 2004 2006 2008 8 2010 2012 2013 Mexico o merica Other Latin Am
2013, remesas s to Mexico, Migrants remittances como en el an estimat ted $22 billi ion in 2013, 2006
are 29% below their 2006 peak. For all oth her Spanish-speaking Latin Ame erican nation ns overall, the 2013 estimate e of $31.8 $ billion slightly su urpasses the 2008 peak.
Notes: Sh hading indicates U U.S. recession. 20 013 are World Bank estimates. Ot ther Latin e, Colombia, Cost America comprises Argen ntina, Bolivia, Chile ta Rica, Dominica an Republic, Remittanc ces from all sources s to Ecuador, El Salvador, Guat temala, Honduras s, Nicaragua, Pan nama, Paraguay, P Peru, Uruguay Spanish-speaking Lati in American n and Vene ezuela. Remittanc ce flows for 2005-2013 use a diffe erent methodology y than 20002004; for r more details see e text box. countries have more than doubled d Source: World W Bank Annua al Remittances Da ata Inflows, Oct. 2 2013 since 2000 0 but remain n below thei ir http://go.worldbank.org/0 092X1CHHD0 peak in 20 007, the year r in which PEW RES SEARCH CENTER the U.S. Great G Recessi ion began. The 2013 estimated to otal ($53.8 billion) is 13% below 2007s 2 $61.6 6 billion (in 2013 2 U.S. do ollars).
The Unite ed States is th he most imp portant sourc ce of money y sent home b by migrants to the 17 La atin American nations as a group (incl luding Mexic co) that are t the focus of this report. U.S. remitta ances accounted d for three-qu uarters of th he total in 20 012$41 bill lion out of $ $52.9 billion, , according t to World Ban nk data.
Mexico Falls, Lat tin Ameri ica Overa all Recove ers
The decrease for Latin n America ov verall was fu ueled by a fal lloff in remit ttances to M Mexico, which h receives more m than 40 0% of all rem mittances to Latin L Ameri ica. If Mexico o is excluded d, remittanc ce totals to Spanish-spea aking Latin American A countries as a whole have recovered a after droppin ng
Quitando a Mxico, los paises latinoamericanos se estan recuperando de la recesin de 2007-2009.
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during the U.S. recession years of 2007 to 2009. They bounced back in most of the other individual Spanish-speaking Latin American nations with remittances of more than $500 million a year. Of the dozen other nations, seven are estimated to have higher remittances in 2013 than during the U.S. recession years of 2007 to 2009. Remittances to Mexico peaked in 2006, a year earlier than the recent high point for Spanishspeaking Latin American nations as a whole. Aside from a single-year increase in 2011, they have fallen each year since then. Other countries in which 2013 estimated remittance flows have not recovered from declines during the U.S. recession years of FIGURE 2 2007 to 2009 are Argentina, Colombia, Costa Rica, Dominican Republic and Ecuador. Share of Latin America
Otros pases que no se han recuperado son: Argentina, Colombia, Costa Rica, Repblica Dominicana y Ecuador.
However, in seven other Spanish-speaking Latin American countries, remittances either have rebounded from declines during the recession years of 2007 to 2009 or did not fall markedly during those years. In Bolivia, El Salvador, Guatemala and Honduras, remittances are estimated to be higher in 2013 than at their peak before the recession. In Nicaragua, Paraguay and Peru, remittances did not decline and have continued to rise. The decline in remittances to Mexiconearly all of which come from the U.S.is linked to economic changes in the U.S., where one-in-ten Mexican-born people live (Passel, Cohn and Gonzalez-Barrera, 2012). The U.S. housing market crash hurt Mexican immigrants for whom the construction industry is a major job source, although a World Bank analysis concludes that the housing markets link to remittance totals has weakened since 2011 (World Bank, 2013).
Remittances from Top Sending Countries, 2012

% of total remittances
Canada 1% Spain 8%
Other 14% U.S. 78%
Notes: Latin America comprises Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay and Venezuela. Parts may not sum to 100% due to rounding.
Another factor in the fall of remittances to Mexico could be the Source: World Bank 2012 Bilateral Remittance Matrix decline in the Mexican immigrant population in the U.S. since http://go.worldbank.org/092X1CHHD0 the onset of the recession, due to decreased arrivals and PEW RESEARCH CENTER increased departures, including deportations. A Pew Research Center analysis of government data found that recent migration from the U.S. to Mexico equals and possibly exceeds migration from Mexico to the U.S. through at least 2012 (Passel, Cohn and Gonzalez-Barrera, 2012).
Otro factor que puede incidir en la caida de las remesas es la baja de la poblacin mexicana inmigrante en los EU dado que han disminuido la migracin sumando los retornos incluso las deportaciones.
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Remitta ance Patt terns

Remittanc ces from the U.S. to Spanish-speaking Lati in American n countries are concentr rated in countries closest to th he U.S. borde er. Mexico alo one receives s more than half$23 billion in 20 012. The sha are rises to fou ur-fifths whe en three adjacent countries c are e added in: Guatemala ($4.4 billio on), El Salva ador ($3.6 billion) and Hon nduras ($2.6 6 billion). U.S. reside ents are the source of nearly all remittance money m receiv ved in Mexico (98% in 201 12) and of th he majority of o remittance e money received in n six other SpanishS speaking Latin L Americ can nations: : Costa Rica a, Dominican n Republic, El Salvador, Guatemala, Honduras and a Panama. Remittance R amounts a fro om the U.S. ar re higher tha an any other r nation to three t more countries, c Colombia, , Peru and Venezuela. V Spain, the e next-larges st sending nation to Spanish-spe S eaking Latin American countries, contributed c 8% 8 of 2012 re emittances, or o $4 billion. Canada, which w ranked d third, sent 1% of remitta ances to these countries, or $704 milli ion in 2012. As is true of Latin Am merica, the U. .S. also is the e largest sour rce of remittances worldwid de, sending a
Re emittances s: A Definitio on
R Remittances a are funds or ot ther assets se ent to their home co ountries by mig grants, either themselves or in the form o of co ompensation f for border, sho ort-term and se easonal em mployees (Wor rld Bank, 2013 3). Most funds s come directl ly fro om migrants; c compensation n accounts for a single-digit sh hare of remitta ances in most Latin America an nations (Wo orld Ba ank, 2011). Da ata in this repo ort are provide ed by the World Bank and follow World Ba nk definitions adopted from m the ternational Mo onetary Fund nations (World d Bank, 2013). In Int so ome cases, tre end analysis is s restricted to nations with more than $500 0 million in an nnual remittances, where ye earare less volatile e. to-year trends a Th he World Bank k reports only r remittances se ent via formal ch hannels, such as banks and other busines sses that trans sfer money. If unofficial remittanc ces were count ted, the total ould be as muc ch as 50% hig gher or more, a according to co ho ousehold surve eys and other evidence cite ed by the World d Ba ank (World Ba nk, 2005). In 2013, the Wo orld Bank revis sed its definiti ion of remittances to d delete a categ gory of capital transfers be etween househ holds. The Wo orld Bank also revised pr reviously publis shed numbers s back to 200 05 to reflect the ch hange. Th his change had d a particularly y large impact t on Brazil, ad reducing the tot tal remittance amounts considerably. It ha les ss impact on o other Latin Am merican nation ns (World Bank k, 20 013). The 201 13 estimates a and the 2005-2013 trend data in this report em mploy the new definition. The 2005 and 20 012 data on s ize of flows fro om one country to another ha ave not been u updated by the e World Bank to reflect the new de efinition, so th ose may differ somewhat fr rom trend data a. When reporting trends over time in remittance flows, mounts for yea ars before 201 13 are adjuste ed to 2013 am do ollars, using th he average U.S S. inflation rate e for every pr receding year. For this reaso on, some numbers in this report differ from m unadjusted data publishe ed by the Worl ld ank. Ba
total of $123.3 billion in 2012, according to World Bank data. Saudi Arabia ($27.6 billion in 2012) is next, followed by Canada ($23.9 billion). Among all countries, the largest recipient of remittances is India, with an estimated $71 billion in 2013. China ranks second ($60.2 billion), followed by the Philippines ($26.1 billion). Mexico ranks fourth.
Impact and Use of Remittances

Remittances are a larger source of money to Latin America than official foreign aid. In 2011, when foreign aid to Spanish-speaking Latin America nations totaled $6.2 billion, formal remittances were more than eight times that$53.1 billion. Foreign aid totals less than remittances in each Spanish-speaking Latin American nation except Chile and Peru. Money sent home by migrants represents a varying share of the gross domestic product throughout Spanish-speaking Latin America. The highest shares are in three Central American nations, according to the World Bank: El Salvador (16.5% in 2012), Honduras (15.7%) and Guatemala (10.0%). What is the impact of remittances? On the macro level, the World Bank has included remittance inflows in its measure of creditworthiness since 2009, so nations with high levels of formal remittances may be allowed to borrow more money than they otherwise could. At the household level, as might be expected, those who receive remittances have higher incomes, spend more and are less likely to be extremely poor than those who do not receive remittances (Ratha, 2013).
TABLE 1
Remittances as a Share of GDP, 2012

% Country El Salvador Honduras Guatemala Nicaragua Dominican Republic Bolivia Ecuador Paraguay Mexico Peru Costa Rica Colombia Panama Uruguay Argentina Venezuela Chile Share 16.5 15.7 10.0 9.7 6.1 4.1 2.9 2.5 2.0 1.4 1.2 1.1 1.1 0.2 0.1 0.0 0.0
Source: World Bank Annual Remittances Data Inflows, Oct. 2013 http://go.worldbank.org/092X1CHHD0
PEW RESEARCH CENTER A significant part of remittances, often the majority, is spent on food, clothing and other day-to-day needs, according to research. Although there is variation by country, a significant, but smaller, share goes to saving and investment, especially among households that no longer include young children (Massey et al., 2012). Households that receive remittances also are more likely than those that do not to spend money on health care and education (Ratha, 2013).
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However, research is inconclusive about the impact of remittances on a receiving nations economy. Some studies have found that labor force participation declines in households that receive remittances, which hurts economic growth (Chami et al., 2003). Other studies focused on the impact of remittances in Mexico have found that at the state level remittances improve regional labor markets by raising employment levels (Orrenius et al., 2012). The average cost of sending remittances to Latin America was 7.3% in late 2013, according to the World Bank, a decline from past years (World Bank, 2013a). The growing role of technology, especially mobile banking and online money transfers, has made it easier to send money home (Orozco, 2012). It also has made it easier, along with improved measurement methods by banks, for governments and central banks to track remittances. Lower costs, improved technology and better tracking have played a role in increasing TABLE 2 the sum of formal remittances, and some research suggests that these factors, not U.S. Share of International Emigrants and Remittances fundamental economic changes, likely account % for most growth in formal remittances over the % of Emigrants % of Remittances 2000s (Orrenius et al., 2012)
Country Mexico
in the U.S., 2010 from the U.S., 2012 96 98 87 87 81 79 70 64 38 37 37 33 30 19 15 13 12 4 90 89 87 72 78 69 39 39 43 35 32 18 16 13 15 6
Who Sends Remittances Home?

Remittance totals are strongly linked to the size of a particular countrys immigrant population in the U.S. and the share of its emigrants who live in the U.S. For example, the four Latin American nations that get the highest share of their remittances from the U.S.Mexico, El Salvador, Guatemala and Hondurasalso are the top four in terms of the share of their emigrants who live in the U.S. The Latin American nations with the lowest share of remittances from the U.S.Uruguay, Bolivia and Paraguayalso have the lowest share of emigrants living in the U.S. Most immigrants do send remittances home, and so do some people born in the U.S.; a Pew Research Center survey in 2008 found that 54% of foreign-born Hispanics and 17% of U.S.-born
El Salvador Guatemala Honduras Panama Dominican Republic Costa Rica Ecuador Peru Nicaragua Venezuela Colombia Argentina Chile Bolivia Uruguay Paraguay
Notes: Ranked by share of international emigrants living in the U.S. Source: Pew Research Center estimates of migrant population stocks, 2010. World Bank 2012 Bilateral Remittance Matrix http://go.worldbank.org/092X1CHHD0 PEW RESEARCH CENTER
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Hispanics say they send money to their home country (Lopez, Livingston and Kochhar, 2009). Some research has found that foreign-born U.S. citizens and legal permanent residents are less likely to send remittances than unauthorized immigrants who may have less attachment to the U.S. and more to their home country (Massey et al., 2012). This report is based mainly on data on remittances compiled by the World Bank, including overall trends for 2000 to 2013 as well as country-to-country flows for 2012. To add context to the remittance findings, the report also uses World Bank data on foreign aid and GNP, as well as 2012 estimates from the U.S. Census Bureaus American Community Survey on the immigrant population in the U.S. from selected Latin American nations.
TABLE 3
Remittances Received, 2013 estimates

In millions, U.S. dollars Total Country Remittances Mexico 22,000 Guatemala 5,412 Colombia 4,642 El Salvador 4,217 Dominican Republic 3,706 Honduras 3,165 Peru 3,012 Ecuador 2,571 Bolivia 1,260 Nicaragua 1,108 Paraguay 760 Argentina 613 Costa Rica 610 Panama 495 Venezuela 123 Uruguay 108 Chile 0
Source: World Bank Annual Remittances Data Inflows, Oct. 2013 http://go.worldbank.org/092X1CHHD0 PEW RESEARCH CENTER
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2. Rem mittance e Trends s

Overall, re emittances to Spanish-sp peaking Lati in America c countries ha ave more tha an doubled si ince 2000 in re eal dollars. Those T Latin American A na ations receiv ved $22.9 bi illion in remi ittances in 2 2000, a figure th hat rose to an n estimated $53.8 billion n in 2013, ac ccording to W World Bank data. Looking at trends sinc ce 2000, the e onset of the e U.S. Great Recession in nterrupted w what had bee en a steady upw ward trend from f 2000 to o 2007. Rem mittances to the 17 nation ns that are t the focus of t this report pea aked at $61.6 6 billion in 2007, 2 and th hen fell in eac ch of the foll lowing three e years, to $5 52.6 billion in 2010. 2 Remit ttances rose in 2011 to $54.2 billion, , but decreas sed to $53.7 billion in 20 012 and held steady s at an estimated $53.8 billion in 2013. Thu us, in 2013, overall remi ittances to L Latin America were w 13% sho ort of their 2007 7 peak. FIGURE 3 A decline in remittanc ces to Mexico wa as the main reason for the ove erall decreas se after 2011. Over rall remittan nces to Mexicon nearly all of which w come from m the U.S.a are estimated to total $22 2 billion in 2013, ac ccording to the t World Ban nk, compare ed with $10.2 billi ion in 2000. Remittanc ces to Mexico peaked at $30.8 billio on in 2006, a ye ear earlier th han for Latin Ame erica as a wh hole. Aside from m a single-ye ear increase in n 2011, remi ittances to Mexico have decrea ased each year since then.
Remittanc ces to Mex xico, 2000 0-2013

In millions, 20 013 U.S. dollar rs 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2000
2002
2 004
2006
2008
2 2010
2013 2012 2
Notes: Shading indicates i U.S. rec cession. 2013 is W World Bank estim mate. Source: World Bank Annual Remi ttances Data Inflo ows, Oct. 2013 http://go.worldb bank.org/092X1C CHHD0 PEW RESEARCH H CENTER
The reduc ced remittances to Mexico we ere reflected d in the findings of a 200 08 survey by y the Pew Research Centers Hispani ic Trends Pr roject. Amon ng Hispanic immigrants i who had sen nt remittanc ces in the pre evious two y years, 71% said they t sent less s in the past t year than th he year befor re (Lopez, L Livingston an nd Kochhar, 2009). In addition, im mmigration from f Mexico o has decline ed to the poin nt that the n number of
13 Remittan nces to Latin Am merica Recover but Not to Mex xico
Mexicans arriving in the t U.S. coul ld be smaller r than the nu umber who are leaving ( (Passel, Coh hn and Gonzalez-Barrera, 201 12). The next four f sub-sect tions look at t trends from m 2000 to 20 013 for 12 ot ther Spanish h-speaking n nations in Latin America A with h annual rem mittances of at a least $500 0 million. Bo olivia, El Salv vador, Guatemala and Hond duras had rem mittance dro ops during th he recession n years, but h have recover red. Nicaragu ua, Paraguay and Peru did d not have notable n declin nes during t the recession n and totals h have since risen. Argentina a, Colombia, Costa Rica, Dominican Republic an nd Ecuador, l like Mexico, , have not recovered from remitt tance decline es during the recession y years. Data for th he remaining nations (C Chile, Panam ma, Uruguay and Venezu uela), as well as for Brazil, and charts for each nation n, can be foun nd in Appen ndix A.
Countri ies Where e Remitta ances Fell l, but Recover red

Remittanc ces to Bolivia a have risen steep ply since 200 00the estimated total in 2013 ($1.3 billion) is more than seven s times high her than in 2000 2 ($172 mill lion). The gr rowth (mainly be efore 2007) was sharper th han for Latin n America as a a whole, an nd Bolivian remittances also a differed fr rom the pattern for Latin Ame erica overall by recovering g from their decline during the e Great Rece ession. Remittanc ces to Bolivia a generally rose r to a pea ak of $1.2 billion in 2008, and a then declined for f two years s before rising agai in.
FIGURE 4
Trends, 20 000-2013: : Nations W Where Rem mittances Declined and a Recov vered
In millions, 20 013 U.S. dollar rs 6,000 Guatemala 5,000 El Salvado or 4,000 Honduras
3,000
2,000 Bolivia 1,000
0 2000
2002
20 004
2006
2008
2 2010
2012 22013
Notes: Shading indicates i U.S. rec cession. 2013 are e World Bank estimates. Source: World Bank Annual Remi ttances Data Inflo ows, Oct. 2013 http://go.worldb bank.org/092X1C CHHD0 PEW RESEARCH H CENTER
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Remittanc ces to El Salv vador, which h totaled $2. .4 billion in 2000, rose t to $4.2 billio on in 2007 b before drifting do own and the en up again. In 2013, El Salvador S rec ceived an est timated $4.2 2 billion in remittances, about equal to its pea ak total. El Salvador S rem mittances are e mainly from m the U.S., w which was the so ource of 90% % of that countrys remitt tances in 20 012. Guatemala also receiv ves most of it ts remittanc ces89% in 2 uatemalan 2012from the U.S. Gu remittances overall gr rew from $81 10 million in n 2000 to $4 4.8 billion in n 2008, abou ut a sixfold increase. After A declini ing in 2009, remittances s to Guatema ala have rise en again sinc ce then, to to otal an estimated $5.4 billion n in 2013, hig gher than the previous p peak. Honduras e U.S. in 201 s, which rece eived 87% of f its remittan nces from the 12, also has recovered fr rom a decline in remittances s during the Great Reces ssion. Hondu uras received d $657 milli ion in remitt tances in 2000, which w rose to o a peak of FIGURE 5 $3.1 billion in 2008. Remittances R Trend ds, 2000-2 013: Natio ons Where Remittanc ces Have f a year bef fore rising declined for Risen n again; in 2013, 2 they re eached an In milli ions, 2013 U.S. dollars estimated $3.2 billion n.
Countri ies Where e Remitta ances Con ntinue to Rise

Remittanc ces to Nicara agua have risen stead dily since 20 000, with only a slig ght dip durin ng the Great Recession n. In 2000, $435 $ million in remitta ances were se ent to Nicaragua a, rising to $891 million in 2008. After A a relatively small decline in 2009 (to $8 840 million), remittances began risi ing again. In n 2013, they y totaled an estimated e $1.1 billion n. Remittanc ces to Paragu uay, $378 million in 2000, grew w to an estimated $760 millio on in 2013, according to World Ba ank data.
6,000
5,000
4,000 Peru
3,000
2,000 Nicaragua
1,000
P Paraguay 0 2000 2 2002 2 2004 2006 200 08 2010 20122013
Notes: Sh hading indicates U.S. recession. Dashed line indicates a change in m methodology that significan ntly affected the t trend. 2013 are W World Bank estimates. Source: World W Bank Annua al Remittances D Data Inflows, Oct. 2 2013 http://go o.worldbank.org/0 092X1CHHD0 PEW RES SEARCH CENTER
Remittanc ces declined or stayed ab bout the sam me from 200 1 to 2005 (a although a ch hange in Wo orld Bank meth hodology could have affe ected the tre end; see text t box on page e 6). Remitta ances grew i in 2006 and leveled off or o grew slow wly through 2010. 2 Remitt tances grew rapidly afte er that; the estimated total of $76 60 million for 2013 is 73% % higher tha an it was in 2 2010. tances grew from $975 million m in 20 000 to an est timated $3 b billion in 20 013. In Peru, overall remitt ces were rela atively level from f 2000 to t 2002, grew w to $2.7 bil llion in 2008 8, and rema ained Remittanc level or gr rew through 2013.
Countri ies Where e Remitta ances Fell l and Did Not Rec cover
Over the 2000-2013 2 period, p remittances to Argent tina peaked in 2008, at a $758 milli ion, after rising each h year before e that, according to World Ba ank data. Since then n, totals have e been up and down. In 2013, es stimated remittances of $613 million m were about a fif fth lower tha an at their recent pea ak but more than five times wha at they had been b in 2000 0 ($117 million).
FIGURE 6
Trend ds, 2000-20 013: Natio ons Where Remittanc ces Fell and Have H Not R Recovered
In millio ons, 2013 U.S. dollars 6,000
5,000
Colombia Dominican Republic
4,000
3,000
Ec cuador
2,000
1,000
Argentin na
ces to Colom mbia have Remittanc ca Costa Ric followed a jagged patt tern of rise 0 000 2002 2004 2 2006 2008 8 2010 20122013 20 and fall sin nce 2000, when w they totaled $2 2.2 billion. Th hey rose Notes: Sh hading indicates U U.S. recession. 20 013 is World Bank estimate. from 2000 0 to 2003 an nd leveled of ff ata Inflows, Oct. 2 Source: World W Bank Annua al Remittances Da 2013 http://go o.worldbank.org/0 092X1CHHD0 for two years before ri ising to a PEW RES SEARCH CENTER 5.3 billion in n 2008. peak of $5 Remittanc ces to Colom mbia declined d or leveled off from 2009 to 2012 before b rising g again to an estimated $ $4.6 billion i in 2013. As explained in the next section, s besi ides the U.S. ., a notable s share of rem mittances to C Colombia co ome from Vene ezuela and Spain, S two ec conomies tha at are still st truggling.
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Remittances to Costa Rica, about two-thirds of which come from the U.S., rose sharply from 2000 ($185 million) to 2007 ($697 million). Remittance totals fell or leveled off after that until resuming their upward climb in 2012. In 2013, Bolivia received an estimated $610 million in remittances. In the Dominican Republic, which receives three-quarters of its remittances from the U.S., money sent home by migrants has grown by about half since 2000, when it totaled $2.5 billion. Remittances peaked at $3.9 billion in 2008, and have been up and down somewhat since then. In 2013, the Dominican Republic received an estimated $3.7 billion in remittances. Remittances to Ecuador totaled $1.8 billion in 2000, then rose to a peak of $3.8 billion in 2007 before falling or leveling off. In 2013, Ecuador received an estimated $2.6 billion in remittances, about a third lower than its peak total. Spain is the main contributor of remittances to Ecuador, followed by the U.S.
Comparing 2005 and 2012 U.S. Remittances

Although yearly data showing U.S. remittances to Latin American nations has not been published, the Pew Research Center analyzed an unpublished World Bank database of U.S. remittances in 2005, two years before the start of the Great Recession. A comparison of 2005 to 2012 U.S. remittances shows that the total sent to Spanish-speaking Latin American nations rose 10% over the period in real terms, from $37.3 billion in 2005 to $41 billion in 2012. However, the change varied greatly among individual nations. U.S. remittances to Mexicothe largest destination countrydeclined slightly (3%) in real terms, from $23.6 billion in 2005 to $22.8 billion in 2012. Remittances to Colombia fell 18% in real dollars from 2005 to 2012. However, among other countries with total remittances of $500 million or more, all had doubledigit percentage increases in remittance growth from the U.S. since 2005. In three countries, the amount more than doubled: Bolivia (135%), Paraguay (119%) and Honduras (115%). U.S. remittances to Panama, which received 72% of its remittances from the U.S. in 2012, also grew sharplyby 181% between 2005 and 2012. As a result of these differing trajectories, there were changes in rank among the top 10 recipients of U.S. remittances. Honduras received more remittances in 2012 than Colombia, the reverse of their positions in 2005. Similarly, Peru received somewhat more than Ecuador in 2012 remittances, a reversal from 2005.
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Remittances and Other Economic Indicators

Remittances are an important contributor to the economies of some Latin American nations. In 2012, according to World Bank data, remittances accounted for about 10% or more of GDP in four nations: El Salvador (16.5%), Honduras (15.7%), Guatemala (10%) and Nicaragua (9.7%). However, for most Latin American nations, remittances make up a far smaller share of GDP. In 2012, they amounted to less than 1% of GDP in Argentina, Chile, Uruguay and Venezuela.
TABLE 4
According to the World Bank (World Bank, 2013), remittances worldwide amount to nearly three times the size of foreign aid, or official development assistance. In Spanishspeaking Latin America, according to World Bank data for 2011 (the latest available), remittances ($53.1 billion) amount to more than eight times the total of foreign aid to the region ($6.2 billion). The size of the difference between remittances and foreign aid varies by nation. Remittances are about 34 times the amount of foreign aid in Nicaragua, and about 10 times or more foreign aid in Costa Rica, Dominican Republic, Ecuador and El Salvador. At the other end of the scale, remittances are less than twice foreign aid in Bolivia. In Chile and Peru, remittances are less than foreign aid. The total amount of remittances sent to each Latin American country from the U.S. is linked to the size of each countrys foreign-born adult population in the U.S. Likewise, the share of remittances to each country that comes from the U.S. is closely linked to the share of that nations emigrants who live in the U.S.
Total Remittances from the U.S. per Immigrant Adult Living in the U.S., 2012
Adult Total Remittances immigrants remittances per capita
(thousands) (millions) (dollars / adult immigrant)
Guatemala Honduras Costa Rica Brazil Panama Dominican Republic El Salvador Peru Ecuador Mexico Colombia Bolivia Nicaragua Argentina Uruguay Venezuela Chile
792 493 73 303 102 888 1,210 401 402 10,786 635 67 251 166 42 177 82
4,400 2,579 361 1,306 340 2,732 3,555 1,091 1,047 22,811 1,330 130 430 105 15 44 1
5,558 5,231 4,923 4,311 3,353 3,076 2,939 2,721 2,607 2,115 2,094 1,940 1,710 630 348 251 6
Notes: Ranked by remittances per capita from the U.S. Adult immigrant population data not available for Paraguay. Source: Pew Research Center estimates based on U.S. Census Bureau 2012 American Community Survey and World Bank 2012 Bilateral Remittance Matrix http://go.worldbank.org/092X1CHHD0 PEW RESEARCH CENTER
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PEW RESEARCH CENTER
Mexico, with by far the largest adult population in the U.S. (10.8 million in 2012) received the largest total remittances.1 Guatemala, fourth-ranked in adult population, ranked second in total remittances. The Dominican Republic, third-ranked in adult population in the U.S., was the fourth-largest remittance recipient in 2012. However, the per capita amount of remittance sent home has less to do with population size in the U.S. Although Mexicans send home the largest total of remittances, they ranked ninth among 16 Spanish-speaking Latin American nations in remittances per capita in 2012. Similarly, Colombia ranked fifth in adult population size in 2012 but 10th in per capita remittances. Meanwhile, Costa Rica ranked 15th in adult population size in 2012 but third in per capita remittances. Guatemala, fourth-ranked in adult population size, sent home the highest per capita remittances in 2012. Honduras, ranked sixth for adult population, sent home the second-highest per capita remittance.
For this analysis, the adult population ages 18 and older, rather than total population, is used in order to focus on the potential pool of remittance senders.
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3. Sources of Remittances to Latin America

The United States is the single largest source of remittances to Spanish-speaking Latin America, accounting for $41 billion of the $52.9 billion in money sent home by migrants in 2012. Funds transferred to Latin America account for a third (33%) of remittances from the U.S., according to World Bank data analyzed by the Pew Research Center. Although about three-quarters (78%) of all remittances to Spanish-speaking Latin American countries come from the U.S., the share varies widely from country to country. In Mexico, 98% of remittances are sent from the U.S.; in Paraguay, 6% are. Mexico also towers over other Latin American countries in the amount of U.S. remittances it receives: $22.8 billion in 2012, accounting for more than half of money transferred to the region from the U.S. The nation with the next highest amountGuatemalareceived $4.4 billion. Of the 17 Spanish-speaking countries that are the focus of this report, the U.S. is the main source of remittances to seven. In addition to Mexico, the U.S. is the source of the majority 0f remittance money received in El Salvador, Guatemala, Honduras, Dominican Republic, Panama and Costa Rica, in order of share from the U.S. It is the largest sending country of remittances to Peru, Colombia and Venezuela. Spain sends more than the U.S. in remittances to Argentina, Bolivia, Ecuador, Paraguay and Uruguay.
FIGURE 7
Percentage of Total Country Remittances from U.S., 2012

% % from U.S. Mexico El Salvador Guatemala Honduras Dominican Republic Latin America Panama Costa Rica Nicaragua Ecuador Peru Venezuela Colombia Argentina Chile 18 16 43 39 39 35 32 78 78 72 69 % Other 98 2 90 10 89 11 87 13 22 22 28 31 57 61 61 65 68 82 84 85 87 94
Uruguay 15 Bolivia 13 Paraguay 6

Source: World Bank 2012 Bilateral Remittance Matrix http://go.worldbank.org/092X1CHHD0 PEW RESEARCH CENTER
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20
Remitta ances to Latin L Ame erica from m Other C Countries s

In terms of o total remit ttances to La atin America a, Spain, which sen nt $4 billion and a supplied d 8% of remittances, ranked sec cond to the U.S. U in 2012 2. Canada, wh hich sent $704 4 million and d supplied 1% % of remittan nces, ranked thi ird. The count tries with the e highest sha ares of remit ttances from Spain are Ecuador (44%) and Bolivia (42 2%). Spain also o supplies ab bout a third of o the remitt tances to Argentina a (35%) and Venezuela V (3 31%) and mo ore than a quarter of o remittanc ces to Urugu uay (29%). In terms of o dollars, Sp pain also con ntributed mo ore to Ecuador th han to any other o Latin American A nation ($1.2 billio on). The oth her top destin nation count tries in 2012 were e Colombia ($751 ( million n), Peru ($47 72 million), Bolivia B ($431 1 million) an nd Dominica an Republic ($417 ( million n).
Remittan nces to Bra azil

Remittances to Brazil ar re estimated a at n in 2013, acc cording to Wor rld $2.8 billion Bank figures. This reflec cts a sharp reduction f from $4.9 billi ion in 2012, b but the change e is due mainly to a revised definition o of remittances s that removed da category of capital trans sfers between ds (see text box x on page 6). household The World Bank has adjusted remittan nce totals to Brazil from 200 05 onward to reflect the new definition n. Looking at trends from m 2005 to 2013, remittances to Brazil pe eaked at $4 b billion in 2008. Remittances declined from 2009 ($3. .1 billion) to 2 2012 ($2.6 billion). Remittances to Brazil in 2013 are estimated at $2.8 billion n.
Brazil rece eives about a q quarter of its However, a number of f Latin Amer rican nation ns remittance es from the U.S S. (26% in receive a notable n shar re of remittan nce funds fro om 2012). countries other than the t U.S. or Sp pain. Among g the 14 Spanish-speaking Lati in American n nations wit th $500 Additional data about re emittances to Brazil can be found in Ap ppendix A. million or r more in 201 12 remittanc ces, sixArg gentina, Bolivia, Co olombia, Nic caragua, Par raguay and Peru P received more m than 40 0% of those dollars d from m countries o other than th he U.S. or Sp pain. Other countries within Latin n America ar re among the e other majo or sources of f remittances s; for examp ple Venezuela a is the secon nd-largest so ource of rem mittances to C Colombia, af fter the U.S.
Argentina a, which rece eived 47% of f its $573 mil llion in 2012 2 remittance es from natio ons other tha an the U.S. or Sp pain, did not receive a no otably large share s from a any nation ot ther than th hose two. In 2012, Bolivia B receiv ved 45% of it ts $1 billion in remittanc ces from nat tions other t than the U.S. or Spain. Spa ain ($431 mi illion) contri ibuted the la argest amoun nt, followed d by Argentin na ($301 mil llion) and the U.S. ($130 mi illion).
The U.S. was the largest contributor ($1.3 billion) in 2012 to Colombias $4.1 billion in remittances, followed by Venezuela ($1.1 billion) and Spain ($751 million). Colombia received half (49%) of its remittances from nations other than the U.S. or Spain in 2012. Nicaragua received $1 billion in remittances in 2012, 56% of it from nations other than the U.S. or Spain. Costa Rica ($444 million) was the largest source of remittances to Nicaragua in 2012, followed by the U.S. ($430 million) and Spain ($18 million). Paraguay received $872 million in remittances in 2012; 59% of that amount ($512 million) came from Argentina. Peru received 44% of its $2.8 billion in 2012 remittances from nations other than the U.S. or Spain. The U.S. ($1.1 billion) and Spain ($472 million) were the top source countries, followed by Italy ($236 million).
FIGURE 8
Percentage of Total Country Remittances from Spain, 2012

% % from Spain Ecuador Bolivia Argentina Venezuela Uruguay Colombia Paraguay Peru 18 17 17 44 42 35 31 29 % Other 56 58 65 69 71 82 83 83 88 88 92 96 97 97 98 99 99 100
Chile 12 Dominican Republic 12 Latin America 8 Honduras 4 Panama 3 Costa Rica 3 Nicaragua 2 Guatemala 1 El Salvador 1 Mexico 0
Source: World Bank 2012 Bilateral Remittance Matrix http://go.worldbank.org/092X1CHHD0 PEW RESEARCH CENTER
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PEW RESEARCH CENTER
References
Chami, Ralph, Connel Fullenkamp and Samir Jahjah. 2003. Are Remittance Flows a Source of Capital for Development? International Monetary Fund Working Paper 03/189. Washington, DC: International Monetary Fund. http://www.imf.org/external/pubs/ft/wp/2003/wp03189.pdf Connor, Phillip. 2012. Faith on the Move: The Religious Affiliation of International Migrants. Washington, DC: Pew Research Centers Religion & Public Life Project, March. http://www.pewforum.org/2012/03/08/religious-migration-exec/ International Monetary Fund. 2011. Balance of Payments and International Investment Position Manual, Sixth edition. Washington, DC. http://www.imf.org/external/pubs/ft/bop/2007/bopman6.htm Lopez, Mark Hugo, Gretchen Livingston and Rakesh Kochhar. 2009. Hispanics and the Economic Downturn: Housing Woes and Remittance Cuts. Washington, DC: Pew Research Centers Hispanic Trends Project, January. http://www.pewhispanic.org/2009/01/08/hispanicsand-the-economic-downturn-housing-woes-and-remittance-cuts/ Massey, Douglas S., Jorge Durand and Karen A. Pren. 2012. Migradollars in Latin America: A Comparative Analysis. Chapter 12 in Migration and Remittances from Mexico: Trends, Impacts and New Challenges. Alfredo Cuecuecha and Carla Pederzini, eds. Lanham, MD: Lexington Books. Orozco, Manuel. 2012. Future Trends in Remittances to Latin America and the Caribbean. Washington, DC: Inter-American Dialogue, May. http://www.thedialogue.org/PublicationFiles/IAD8642_Remittance_0424enFINAL.pdf Orrenius, Pia M., Madeline Zavodny, Jesus Canas and Roberto Coronado. 2012. Remittances as an Economic Development Engine: Regional Evidence from Mexico. Chapter 10 in Migration and Remittances from Mexico: Trends, Impacts and New Challenges. Alfredo Cuecuecha and Carla Pederzini, eds. Lanham, MD: Lexington Books. Passel, Jeffrey, DVera Cohn, and Ana Gonzalez-Barrera. 2012. Net Migration from Mexico Falls to Zeroand Perhaps Less. Washington, DC: Pew Research Centers Hispanic Trends Project, April. http://www.pewhispanic.org/2012/04/23/net-migration-from-mexicofalls-to-zero-and-perhaps-less/
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Ratha, Dilip. 2013. The Impact of Remittances on Economic Growth and Poverty Reduction. Washington, DC: Migration Policy Institute, September. http://www.migrationpolicy.org/pubs/Remittances-PovertyReduction.pdf World Bank. 2005. Global Economic Prospects 2006: Economic Implications of Remittances and Migration. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/2005/11/6413332/global-economicprospects-2006-economic-implications-remittances-migration World Bank. 2011. Migration and Remittances Factbook 2011. Washington, DC: World Bank. http://siteresources.worldbank.org/INTLAC/Resources/Factbook2011-Ebook.pdf World Bank. 2013. Migration and Remittance Flows: Recent Trends and Outlook: 2013-2016. Washington, DC: World Bank, October. http://siteresources.worldbank.org/INTPROSPECTS/Resources/3349341288990760745/MigrationandDevelopmentBrief21.pdf World Bank, 2013a. Remittance Prices Worldwide. Washington, DC: World Bank, September. https://remittanceprices.worldbank.org/sites/default/files/RPW_Report_Sep2013.pdf
www.pewresearch.org
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Appen ndix: Ind dividual Country y Trends s

FIGURE A.1
Remittan nces Received by Arg gentina

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Argentin nas GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 573 0.1 105 18
1,000
To otal Remittances Received, 2 000-2013 (in n millions, 2013 3 U.S. dollars) 613 93 12
5,000 6,000
4,000
3,000
2,000
630
0 2000 2002 200 04 2006 2008 2 2010 2013 2012 2
Notes: Shading g indicates U.S. re ecession. 2013 is s World Bank estimate. 2012 facts s are based on 20 012 World Bank d data that used a d different remittance me ethodology than more m recent data used u for 2013 fac cts and trend cha art. Source: All rem mittance and GDP P data from World Bank. Trends, 20 013 total, ranking gs and 2012 shar re of GDP from 20 013 Annual Remit ttances Data Inflows, Oct. O 2013; 2012 totals, t U.S. totals and U.S. share fr rom 2012 Bilatera al Remittance Ma atrix; adult immigr rant population fr rom Pew Research Cent ter estimates bas sed on 2012 American Community Survey. http://g go.worldbank.org/ /092X1CHHD0 PEW RESEARC CH CENTER
FIGURE A.2
Remittan nces Received by Bo olivia

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Bolivias s GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 1,019 4.1 130 13
1,000
To otal Remittances Received, 2 2000-2013 (in n millions, 2013 3 U.S. dollars) 1,260 74 9
5,000 6,000
4,000
3,000
2,000
1,940
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
26
FIGURE A.3
Remittan nces Received by Chile

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Chiles GDP G Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 3 0.0 1 16
1,000
5,000 6,000
4,000
3,000
2,000
6
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
Notes: Shading g indicates U.S. re ecession. 2013 is s World Bank estimate. 2012 facts s are based on 20 012 World Bank d data that used a d different remittance me ethodology than more m recent data used u for 2013 fac cts and trend cha art. World Bank 20 013 estimate for Chile is zero; 201 12 estimate is $3 3 million. Source: All rem mittance and GDP P data from World Bank. Trends, 20 013 total, ranking gs and 2012 shar re of GDP from 20 013 Annual Remit ttances Data Inflows, Oct. O 2013; 2012 totals, t U.S. totals and U.S. share fr rom 2012 Bilatera al Remittance Ma atrix; adult immigr rant population fr rom Pew Research Cent ter estimates bas sed on 2012 American Community Survey. http://g go.worldbank.org/ /092X1CHHD0 PEW RESEARC CH CENTER
FIGURE A.4
Remittan nces Received by Co olombia

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Colombias GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 4,110 1.1 1,330 32
1,000
To otal Remittance es Received, 2 000-2013 (in n millions, 2013 3 U.S. dollars) 4,642 27 3
5,000 6,000
4,000
3,000
2,000
2,094
0 2000 2002 2 004 2006 2008 2010 2012 2 2013
28
FIGURE A.5
Remittan nces Received by Co osta Rica

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Costa Ricas GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 522 1.2 361 69
1000
5000 6000
4000
3000
2000
4,923
0 2000 2002 20 004 2006 2008 2010 2012 2 2013
FIGURE A.6
Remittan nces Received by Do ominican Republic R

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Dominic can Republics GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. ult immigrant) (dollars / adu 3,505 6.1 2,732 78
1,000 3,000
6,000
5,000
4,000
2,000
3,076
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
30
FIGURE A.7
Remittan nces Received by Ecuador

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Ecuador rs GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 2,682 2.9 1,047 39
1,000
5,000 6,000
4,000
3,000
2,000
2,607
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
FIGURE A.8
Remittan nces Received by El Salvador S

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of El Salva adors GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 3,965 16.5 3,555 90
1,000
5,000 6,000
4,000
3,000
2,000
2,939
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
32
FIGURE A.9
Remittan nces Received by Gu uatemala

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Guatem malas GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 4,922 10.0 4,400 89
1,000
5,000 6,000
4,000
3,000
2,000
5,558
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
FIGURE A.10
Remittan nces Received by Ho onduras

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Hondura ass GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 2,971 15.7 2,579 87
1,000
5,000 6,000
4,000
3,000
2,000
5,231
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
34
FIGURE A.11
Remittan nces Received by Me exico

Selected Fac cts, 2013 ons) Total (in billio World rank Latin America a rank cts, 2012 Selected Fac Total (in billio ons) % of Mexicos s GDP Total from the U.S. (in billions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 23.2 2.0 22.8 98 2,115
15,000 10,000 5,000 0 2000 2002 20 004 2006 2008 2010 2012 22013
To otal Remittances Received, 2 000-2013 (in n millions, 2013 3 U.S. dollars) 22.0 4 1
35,000 30,000 25,000 20,000
Notes: Shading g indicates U.S. re ecession. 2013 is s World Bank estimate. 2012 facts s are based on 20 012 World Bank d data that used a d different methodology than more recent data used for 2013 facts and tren nd chart. Source: All rem mittance and GDP P data from World Bank. Trends, 20 013 total, ranking gs and 2012 shar re of GDP from 20 013 Annual Remit ttances Data Inflows, Oct. O 2013; 2012 totals, t U.S. totals and U.S. share fr rom 2012 Bilatera al Remittance Ma atrix; adult immigr rant population fr rom Pew Research Cent ter estimates bas sed on 2012 American Community Survey. http://g go.worldbank.org/ /092X1CHHD0 PEW RESEARC CH CENTER
FIGURE A.12
Remittan nces Received by Nic caragua

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Nicaraguas GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 1,010 9.7 430 43
1,000 3,000
5,000 6,000
4,000
2,000
1,710
0
2000 2002 2 2004 2006 2008 2010 2012 2 2013
36
FIGURE A.13
Remittan nces Received by Panama

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Panama as GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 472 1.1 340 72
1,000
5,000 6,000
4,000
3,000
2,000
3,353
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
FIGURE A.14
Remittan nces Received by Paraguay

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Paragua ays GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 872 2.5 56 6
1,000
5,000 6,000
4,000
3,000
2,000
n.a.
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
Notes: Shading g indicates U.S. re ecession. Dashed d line indicates a change c in method dology that signifiicantly affected th he trend. 2013 is World Bank estimate e. 2012 facts are based on 2012 World W Bank data that t used a differe ent remittance m ethodology than m more recent data used for 2013 facts and trend chart. Source: All rem mittance and GDP P data from World Bank. Trends, 20 013 total, ranking gs and 2012 shar re of GDP from 20 013 Annual Remit ttances Data Inflows, Oct. O 2013; 2012 totals, t U.S. totals and U.S. share fr rom 2012 Bilatera al Remittance Ma atrix; adult immigr rant population fr rom Pew Research Cent ter estimates bas sed on 2012 American Community Survey. http://g go.worldbank.org/ /092X1CHHD0 PEW RESEARC CH CENTER
38
FIGURE A.15
Remittan nces Received by Peru

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Perus GDP G Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 2,808 1.4 1,091 39 2,721
1,000 500 0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
3,000 2,500 2,000 1,500 3,500
FIGURE A.16
Remittan nces Received by Uru uguay

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Uruguay ys GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 99 0.2 15 15
1,000
5,000 6,000
4,000
3,000
2,000
348
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
40
FIGURE A.17
Remittan nces Received by Venezuela

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Venezue elas GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 126 0.0 44 35
1,000
5,000 6,000
4,000
3,000
2,000
251
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
FIGURE A.18
Remittan nces Received by Bra azil

Selected Fac cts, 2013 Total (in millions) World rank Latin America a rank cts, 2012 Selected Fac Total (in millions) % of Brazils GDP Total from the U.S. (in millions) % of total from the U.S. Remittances per capita from the U.S. (dollars / adu ult immigrant) 4,936 0.1 1,306 26
1,000
To otal Remittances Received, 2 000-2013 (in n millions, 2013 3 U.S. dollars) 2,757 39 n.a.
5,000 6,000
4,000
3,000
2,000
4,311
0 2000 2002 2 2004 2006 2008 2010 2012 2 2013
Notes: Shading g indicates U.S. re ecession. Dashed d line indicates a change c in method dology that signifiicantly affected th he trend. 2013 is World Bank estimate e. 2012 facts are based on 2012 World W Bank data that t used a differe ent remittance m ethodology than m more recent data used for 2013 facts and trend chart. Only Spanish-speaki ing countries were included in the Latin America ran nkings. See Brazil text box for more e details. Source: All rem mittance and GDP P data from World Bank. Trends, 20 013 total, ranking gs and 2012 shar re of GDP from 20 013 Annual Remit ttances Data Inflows, Oct. O 2013; 2012 totals, t U.S. totals and U.S. share fr rom 2012 Bilatera al Remittance Ma atrix; adult immigr rant population fr rom Pew Research Cent ter estimates bas sed on 2012 American Community Survey. http://g go.worldbank.org/ /092X1CHHD0 PEW RESEARC CH CENTER

Pewhispanic Remittances 2013

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Pewhispanic Remittances 2013

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NUMBERS, FAC CTS AND TRENDS S SHAPING THE W WORLD

2 FOR RELEASE November 15, 2013

1 Remittances to Latin America Recoverbut Not to Mexico

About This Report

PEW RESEARCH CENTER

About Pew Research Center

Pew Research Center 2013

3 Remittances to Latin America Recoverbut Not to Mexico

PEW RE ESEARCH CENT TER

5 Remittances to Latin America Recoverbut Not to Mexico

Remittances from Top Sending Countries, 2012

Other 14% U.S. 78%

PEW RE ESEARCH CENT TER

Remitta ance Patt terns

7 Remittances to Latin America Recoverbut Not to Mexico

Impact and Use of Remittances

Remittances as a Share of GDP, 2012

PEW RESEARCH CENTER

in the U.S., 2010 from the U.S., 2012 96 98 87 87 81 79 70 64 38 37 37 33 30 19 15 13 12 4 90 89 87 72 78 69 39 39 43 35 32 18 16 13 15 6

Who Sends Remittances Home?

9 Remittances to Latin America Recoverbut Not to Mexico

Remittances Received, 2013 estimates

PEW RESEARCH CENTER

11 Remittances to Latin America Recoverbut Not to Mexico

PEW RE ESEARCH CENT TER

2. Rem mittance e Trends s

Remittanc ces to Mex xico, 2000 0-2013

13 Remittan nces to Latin Am merica Recover but Not to Mex xico

Countri ies Where e Remitta ances Fell l, but Recover red

2,000 Bolivia 1,000

PEW RE ESEARCH CENT TER

Countri ies Where e Remitta ances Con ntinue to Rise

P Paraguay 0 2000 2 2002 2 2004 2006 200 08 2010 20122013

15 Remittan nces to Latin Am merica Recover but Not to Mex xico

Colombia Dominican Republic

PEW RESEARCH CENTER

Comparing 2005 and 2012 U.S. Remittances

17 Remittances to Latin America Recoverbut Not to Mexico

Remittances and Other Economic Indicators

PEW RESEARCH CENTER

19 Remittances to Latin America Recoverbut Not to Mexico

3. Sources of Remittances to Latin America

Percentage of Total Country Remittances from U.S., 2012

Uruguay 15 Bolivia 13 Paraguay 6

PEW RE ESEARCH CENT TER

Remitta ances to Latin L Ame erica from m Other C Countries s

Remittan nces to Bra azil

21 Remittances to Latin America Recoverbut Not to Mexico

Percentage of Total Country Remittances from Spain, 2012

PEW RESEARCH CENTER

23 Remittances to Latin America Recoverbut Not to Mexico

PEW RE ESEARCH CENT TER

Appen ndix: Ind dividual Country y Trends s

Remittan nces Received by Arg gentina

25 Remittan nces to Latin Am merica Recover but Not to Mex xico

Remittan nces Received by Bo olivia

PEW RE ESEARCH CENT TER

Remittan nces Received by Chile

27 Remittan nces to Latin Am merica Recover but Not to Mex xico

Remittan nces Received by Co olombia

PEW RE ESEARCH CENT TER

Remittan nces Received by Co osta Rica

29 Remittan nces to Latin Am merica Recover but Not to Mex xico

Remittan nces Received by Do ominican Republic R