According to the data, with regard to Portuguese-speaking African Countries (PALOP), Angola has the largest share, with Angolans sending 34.2 million euros, almost 30 percent more than the previous year, while Cape Verdeans sent 33.3 million euros.
The Portuguese working in Angola sent 267.61 million euros to Portugal last year, a figure that reflects a drop of 14.8 percent compared to the 314.09 million sent in 2023, and also represents the vast majority of the 276.73 million euros sent from the PALOP countries.
Overall, remittances from emigrants exceeded 4.3 billion euros for the first time last year, growing 4.4 percent, according to data released this Wednesday by the Bank of Portugal, with Switzerland being the largest issuing market.
According to data from the Portuguese financial regulator, Portuguese workers abroad sent 4,300.93 million euros, 4.4 percent more than the 4,119.76 million sent in 2023, with these two years being the first in which remittances exceeded the four billion euro mark.
Since 2013, remittances have consistently exceeded three billion euros per year, but between 1998 and 2001 the amounts also exceeded this barrier, then falling to between two and three billion between 2002 and 2012.
The Portuguese in Switzerland were those who sent the most remittances to Portugal, with the value rising 6.74 percent in 2024, to a total of 1,135.18 million euros, slightly above emigrants in France, who sent 1,108.96 million euros, which represents an increase of 2.18 percent compared to the value sent in 2023.
In the opposite direction, foreigners working in Portugal sent 845.7 million euros to their countries, which represents an increase of 5.7 percent compared to the almost 800 million sent last year, and well above the less than 650 million euros sent in 2022.
Remittances from foreign workers in Portugal have been on the rise, having increased by 50 percent between 2021 and 2024, and remaining above 600 million since 2022.
As usual, Brazil is the largest sending market, with Brazilian workers sending 413.8 million euros last year, which is equivalent to an increase of 3.7 percent compared to 2023, representing about half of the money sent by all foreign workers in Portugal to their home countries.
