Polish expats send EUR 867.1 mln back home in Q3, 2020

Polish people living abroad transferred PLN 3.9 billion (EUR 867.1 million) to their home country in the third quarter of 2020, the National Bank of Poland (NBP) reported on Monday.

The figure was PLN 0.3 billion (EUR 66 million) lower year on year, the NBP said.

Short-term migrants transferred PLN 1.3 billion (EUR 289 million) to their home country in the third quarter of 2020, and long-term migrants sent back PLN 2.6 billion (EUR 578 million), the central bank said.

The annual increase in total transfers was due to the inflow of money from the Netherlands and Norway, while transfers from the Germany, the United Kingdom and Ireland diminished.

Germany remained the country from which Polish expats sent the most money from, with Poles sending PLN 1.4 billion (EUR 311.3 million) to their home country in the reported period. The UK came second, with those residing in the UK transferring PLN 0.4 billion (EUR 88.9 million). The two countries were responsible for 45.6 percent of total transfers.