RIO DE JANEIRO, BRAZIL - Ecuadorian citizens residing in Spain sent remittances worth US$1.0821 billion (€933.5 million) to their country of origin in 2020, placing the Andean nation as the largest recipient of remittances from Spain in Latin America, according to data offered by Sendity.
The Spanish money transfer startup has highlighted that the figure of remittances from Spain represents almost half of the total remittances that Ecuador received last year, which amounted to some 2.848 billion dollars, equivalent to 2.74% of Ecuador's GDP.
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