North Macedonia, remittances declining - The country ranks last in the region. Serbia leads
Last year, migrants sent 310 million euros to North Macedonia, or 2 percent of GDP. Although they are recording a surplus, remittances from foreign countries in absolute figures have been declining in recent years, from 319 million euros in 2023 and 331 million euros in 2022.
Of the countries in the region, in absolute terms, the Serbian diaspora had the most remittances last year, transferring 4.47 billion euros, followed by Bosnia and Herzegovina with 1.99 billion, Kosovo with 1.32, Albania with 1.28 billion and Montenegro with 345 million euros.
In 2024, nine European Union countries recorded a surplus in personal transfers, including Croatia with 2.6% of GDP, Bulgaria with 1.3% and Portugal with 1.2%. On the other hand, Malta recorded the highest deficit with -2.8% of GDP, followed by Cyprus (-0.9%), Belgium (-0.6%), as well as Greece, Spain and France, each with -0.5%, according to Eurostat data.
Personal remittances sent by EU residents to people outside the bloc reached €52.1 billion, a 6% increase compared to 2023 (€49.2 billion). Meanwhile, the flow of personal transfers to households reached €14.8 billion, 7% more compared to 2023.
In the last five years, there has been a significant increase in the flow of personal transfers, with an expansion of 51%. While the turnover has expanded at a slower pace (26%). As a result, the negative balance of the European Union towards countries outside the EU has deepened, reaching 37.3 billion euros in 2024.
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