Workers' remittances paid reached 54.0 USD mil in 2016 in Venezuela, according to the National Statistical Office. This is 48.6 % less than in the previous year.
Historically, workers' remittances paid in Venezuela reached an all time high of 1,117 USD mil in 2013 and an all time low of 54.0 USD mil in 2016. When compared to Venezuela's main peers, workers' remittances paid in Brazil amounted to 1,385 USD mil, 259 USD mil in Colombia, 138 USD mil in Guyana and 372 USD mil in Trinidad and Tobago in 2016.
Venezuela has been ranked 127th within the group of 154 countries we follow in terms of workers' remittances paid, 70 places behind the position seen 10 years ago.
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by non-resident workers.