Migration is a global phenomenon with great social and economic impacts. For many Latin American countries it represents a very important part of their economy. Which country receives the most remittances in relation to its GDP?

ANSWER

Honduras. The Central American country received US$8,284 million in 2022, which represents 27% of its GDP according to World Bank data. To give you an idea of its importance for Honduras, in Chile copper mining represents about 12% of GDP.

Honduras is followed by El Salvador, Nicaragua and Guatemala. In absolute terms, Mexico receives the most remittances: US$60,300, but this figure only represents 4.2% of its GDP. Chile, on the other hand, is the country that receives the least remittances, below US$100 million in 2022. And in other parts of the world? Tonga is the country that receives the most remittances in relation to its GDP (50%), followed by Lebanon (38%).