EU remittances back on the increase in 2010 - Issue number 4/2012 - Products Statistics in Focus

More than 70% of outflows sent to third countries

International migration receives growing attention, as it has large implications for growth and welfare in both countries of origin and destination. Eurostat regularly publishes data related to workers' remittances and compensation of employees. Workers' remittances are mainly related to migrants who tend to stay for a long time, whereas compensation of employees is linked to cross-border and seasonal workers. After a temporary decrease in 2009, compensation of employees is back on the increase in 2010 at 46.9 bn euro. Outflows of workers' remittances also rose to 31.2 bn, compared with 30.4 bn in 2009 (+3%). Despite the growing trend, total outflows of remittances and compensation of employees in the EU at 78.1 bn in 2010 remained 1% below their 2008 record level of 79.2 bn euro.