Within the Latin American context, worker remittances are becoming increasingly relevant to the economies of many countries. In 2003, Lat in America received more than $38 billion in remittances from Canada, Europe, Japan, Latin America itself and the United States. The table 4 shows the total remittances sent to selected countries in Latin America and the Caribbean in 2003. The table also shows remittances as a percentage of GDP and exports. It reveals that, especially for the smaller economies of Central America and the Caribbean, remittances represent a significant percentage of these macroeconomic.
