Although in August the entry of remittances to Colombia from workers abroad registered a decrease compared to the July figure, the accumulated In the first eight months of this year, it reached US$8,653 million, a growth of 13.4% compared to the same period in 2024. and an average of US$37 million daily.
Read: Remittances entering Colombia almost triple the figures from a decade ago
According to figures from the Bank of the Republic, the registration for the eighth month of the year doubles what had been registered in 2018, when US$4,259 million entered until August.
During August, remittances amounting to US$1,095 million arrived in the country, a figure that represented a growth of 8.6% compared to the same month in 2024 when US$1,008 million arrived.
The greater income from labor income of Colombians has a close relationship with greater Colombian emigration to countries such as the United States, Spain, Chile, Canada or Australia, among other nations, where the bulk of these resources arrive.
In July, remittances worth US$1,158 million had entered, in June US$1,084 million, in May US$1,095 million, in April US$1,097 million, in March US$1,089, in February US$1,031 million and in January US$1,009 million.
In any case, with a revaluation of the peso against the dollar of 11.7% so far this year, remittance recipients have felt the impact since they receive less pesos for each dollar if they do not adjust prices.
US dollar
Alexander Gray – Unsplash
According to analysts and experts, these family resources already have a share of slightly more than 3% of the Gross Domestic Product (GDP) in 2025, which shows their importance for the country.
In 2024, the ceiling achieved in 2023 (US$10,091.01 million) was again broken as these exceeded US$11,848 million, that is, they increased by 17.4%. In 2024, US$6,297 million arrived in Colombia from the United States, that is, 53% of the total of these resources, followed by Spain, with US$1,842 million, and Chile, with US$461 million.
Several analysts warn that the immigration policies of Donald Trump’s administration would have the potential to reduce the remittances that migrants send to their countries of origin through stricter rules and mass deportations that end up reducing the base of individuals who contribute to these flows, not to mention discouraging migration.
Trump signed the Budget law, which includes, among other aspects, a 1% tax on remittances, resources that will be allocated to his immigration policy, tax breaks and cuts to health coverage. Based on the number of remittances from the US to Colombia in 2024, the 1% tax would represent about US$65 million.
Holman Rodríguez Martínez
Portfolio Editorial
See also: The Colombian economy would show a moderate recovery by 2026
