Diaspora remittances surpassed 3 percent of the GDP in 2020

Eurostat estimates that the Macedonian diaspora made 361 million EUR in personal transfers to their relatives and friends in 2020.

It amounts to over 3 percent of the Macedonian GDP, and unregistered transfers and diaspora spending during visits to Macedonia is significantly higher. The sum is still relatively low for Balkan standards, as in Serbia, remittances amount to 7.2 percent of GDP, in Albania – almost 10, and in Kosovo – nearly a fifth of the economy.