economy
May 5, 2026
US$40 million in remittances are arriving daily in Colombia, more than half of them from the U.S.
From the United States, Colombians send more than 50% of the remittances the country receives. Photo: iStock
TL;DR
- Colombia received a record US$1.225 billion in remittances in March 2026, averaging US$40 million daily.
- This marks a significant increase from previous months and years, showing a consistent upward trend since 2021.
- Key drivers include improved employment in countries like the U.S. and Europe, ongoing migration, and easier digital transfer methods.
- Remittances act as a crucial support for Colombia's current account and boost household consumption, though they can increase imports.
- The substantial inflow of dollars tends to lower the exchange rate, potentially impacting export competitiveness.
- A new US tax of 1% on remittances to foreign countries was implemented in January, affecting cash transfers and postal orders, and aims to finance border security policy.