Quarterly value of outgoing personal remittances in Colombia 2000-2023
Outgoing remittance from Colombia in the third quarter of 2023 increased by eight percent on an annual basis, the first positive growth rate in 2023. This is according to a calculation that looks at personal money transfers and cross-country compensation of employees, on a quarterly basis. These two types of payments together form "personal" remittances. While technically not the same as "total" remittances, oftentimes the two types of remittances have the same figures due to a general lack of data tracking. Colombia sent out its highest value of international money transfers and employee compensations during the third quarter of 2014, when the Latin American country had an estimated personal remittance outflow of 114 million U.S. dollars.