Notes on Bilateral Remittance Flows from the European Union Countries
This note summarizes some stylized facts implied by the latest Bilateral Remittances Matrix (BRM) published by KNOMAD in late December 2022.
The EU-27 countries as a group form the second most important source of remittance flows worldwide, after the United States. Three EU countries -- Germany, France, and Spain -- feature among the top 10 source countries for remittance flows. Officially published data show that in 2021, outward remittances from the EU countries amounted to $123 billion.