Remittances up 7.48% in Q1, US, Spain continue to lead as countries of origin

- Monday, June 6, 2011

Remittances up 7.48% in Q1, US, Spain continue to lead as countries of origin

Remittances to Peru rose 7.48% year-on-year in the first quarter to US$632mn, with the US and Spain as the top two countries of origin, according to the latest figures from central bank BCRP.

Peruvians living in the US sent home US$214mn, while those living in Spain sent US$105mn, for 2.0% and 6.3% expansion, respectively.

Remittances from Peruvians in Chile saw the largest year-on-year increase in the first quarter, up 43.1% to US$36mn.

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Compared to 4Q10 figures, remittances were down 9.84% from the US$701mn recorded in that period, BCRP figures show.