Colombian remittances equal the value of the country's oil exports

"For the first time in history, the fiscal impact of money sent by Colombians abroad to their families at home has equaled the value of the country's oil exports. Between January and July of this year, these international transfers amounted to $6.507 billion, while hydrocarbon shipments totaled around $6.491 billion. There is no doubt that this is an increasingly vital economic source."

"The largest senders of remittances to Colombia are the United States (42%) and Spain (11.3%). If we compare ourselves with other economies in the Central American bloc whose remittance figures exceed 20% of their GDP, ours is not a risky or dramatic level for the economy. On the contrary, it provides support in terms of spending and managing local cycles, explains BBVA's chief economist, Alejandro Reyes."

Between January and July 2025, international remittances to Colombia reached $6.507 billion, matching hydrocarbon export receipts of about $6.491 billion. Remittances are approaching 3% of GDP and provided $1.158 billion in July alone, a 15.1% year‑over‑year increase. The United States (42%) and Spain (11.3%) are the largest senders. Remittances support low‑income recipient families with health, housing, food, and education, and they boost consumption and economic growth. Part of the increase reflects roughly 1.5 million Colombians who left since 2022, and analysts note immigration policy influences these flows.

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