site.btaBulgaria's Personal Transfers Surplus in 2022 at 1.4% of GDP

In 2022, flows of money sent by EU residents to non-EU countries, referred to as personal transfers, amounted to EUR 43.5 billion, an increase of 14% compared with EUR 38.2 billion in 2021, show data published by Eurostat here on Wednesday.

In 2022, personal transfers resulted in a surplus for 9 EU countries as their inflows exceeded outflows. Among those countries 4 reported a surplus representing more than 1% of their respective gross domestic product (GDP): Croatia (2.8% of GDP), Bulgaria (1.4%), Portugal (1.4%) and Romania (1.3%).

 In contrast, Cyprus (-0.9%), Malta and Spain (each -0.6%) exhibited the largest deficits of personal transfers vis-à-vis the rest of the world as a share of their respective GDP.

Personal transfers consist of flows of money sent by migrants to households of their country of origin.