Ver Angola

Economy

Remittances from Angola abroad increased in the 1st quarter

Remittances and other personal transfers from Angola to abroad increased by 13 percent in the first quarter of 2024 compared to the previous three months, with Portugal being the main destination, according to a report from the National Bank of Angola.

: Lusa
Lusa  

Between January and March, remittances totaled 60.39 million dollars (55.8 million euros at the current exchange rate), of which 45.48 million dollars (42.08 million euros) were sent to Portugal.

Among the main destinations for Angolan money are China (4.53 million dollars), Vietnam (1.68 million dollars) and the USA (1.63 million dollars).

In this period, remittances and other personal transfers received from the rest of the world amounted to 3.3 million dollars (around 3.05 million euros), representing an increase of 0.3 million dollars compared to the previous quarter and a reduction of 0.5 million compared to the same period in 2023.

Remittances from Portugal had a negative variation of 10.6 percent, while remittances sent to this country grew by 18.5 percent.

Canada was the destination country that grew the most (768.9 percent), while remittances from Mozambique were the ones that increased the most during this period (123.5 percent).

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