LISBON: Remittances to Portugal by citizens living abroad were down 14.2 percent in August on the same month of last year, at €220.6 million, the lowest monthly level since 2011.
Meanwhile remittances abroad by foreign citizens living in Portugal also shrank 6.6 percent to €46.5 million. The figures, which appear in the latest statistical bulletin of the Bank of Portugal, show that the drop in remittances by immigrants in Portugal is the largest since at least 2010. Similarly, remittances by Portuguese citizens working abroad have historically been a major contribution to the country’s foreign income.
