Euro outflow from the EU rises: Eurostat

ANKARA: EU residents transferred a total of Euros 31.3 billion to countries outside the EU last year, most of it coming from migrants sending money back to their home countries, Eurostat said on Friday.

EU residents' total personal transfers to foreign countries rose 4.6 percent in 2015, compared to Euros 29.9 billion in 2014.

Eurostat said that there was a Euros 20.4 billion negative balance in personal transfers, as inflows to the EU last year totaled Euros 11 billion.

According to Eurostat, Poland was the country with the largest surplus, at around Euros 3 billion, followed by Portugal and Romania with surpluses of Euros 2.8 and Euros 1.7 billion, respectively.

In 2015 residents of France made the largest total personal transfers outside the EU at Euros 10 billion, making for a negative balance of approximately Euros 9.5 billion. The United Kingdom had the second-largest deficit at Euros 5 billion and Italy was third with some Euros 4.2 billion.

Source: Anadolu Agency