On the other hand, foreign direct investment registered the lowest amount in 2023, at least since 2016, with an amount of USD 372 million, according to the Central Bank.
A sign for the registration of migrants in the town of Bajo Chiquito, in Panama, on December 19, 2023.
In 2023, Ecuador recorded USD 5,448 million in remittances received, the highest amount achieved in dollarization, according to the Central Bank.
In addition, it represents an increase of USD 704 million or 15% in relation to the amount received from remittances in 2022, which was USD 4,744 million.
The country from which the most remittances were sent to Ecuador was the United States, with USD 3.88 billion. This is due to the significant number of Ecuadorian migrants living in the North American country.
Many of them arrive in the United States through irregular routes. In 2023, some 50,395 Ecuadorians crossed the dangerous jungle of the Darién Gap, which separates Colombia from Panama.
After Venezuelans, Ecuadorians were the ones who crossed the jungle the most in 2023.
The second country from which the most remittances arrived was Spain, with USD 876.7 million, according to the ECB.
For their part, remittances sent from Ecuador closed at USD 700.9 million, which represents an increase of USD 70.4 million compared to 2022.
Foreign investment falls
Meanwhile, foreign direct investment registers the lowest amount, at least since 2016, with an amount of USD 372 million.
Mining activity had the highest amount of investment with USD 178 million in 2023, according to the ECB.
