14th December 2015

Eurostat data on remittances: Czech Republic among countries with highest intra-EU outflows of foreigners' money

According to recently published Eurostat data on remittances, Slovakia (95%), Luxembourg (91%), Ireland (80%) and the Czech Republic (78%) were the Member States that recorded the highest proportion of intra-EU outflows of personal transfers in total outflows of personal transfers in 2014.

In 2014, flows of money sent by residents of the European Union (EU) to a non-EU country, referred to as personal transfers, amounted to €29.3 billion, compared with €28.7 bn in 2013. As inflows to the EU totalled €11.0 bn in 2014, this resulted in a negative balance (-€18.3 bn) for the EU with the rest of the world. The majority of personal transfers consist of flows of money sent by migrants to their country of origin. Read details.

The Czech Statistical Office offers data on remittances for 2011. According to the various administrative data resources, they were approximately 537 000 foreigners in the Czech Republic in 2011. They represent about 5% of total population. Working foreigners count about 4% (non-resident employees, resident employees and entrepreneurs). Most foreigners come from Slovakia, Ukraine, Vietnam, Russia and Poland. The income is estimated only for employees. Entrepreneur’s earnings are expressed by net lending/borrowing. The revenues of economically non-active persons represent scholarships and retirement pension. In 2011, non-resident employees’ net wages represented about 17 billion CZK, resident employees earned about 62 billion CZK and the earnings of entrepreneurs were 33 billion CZK. Read the analysis.




Members of the American Chamber of Commerce in the Czech Republic