Personal transfers in Western Balkans above 5% – Serbia at 6.1%

Multiple times higher personal transfers are arriving to the countries of the Western Balkans that the EU member states relative to the gross domestic product (GDP), as shown by the data of EUROSTAT published today.

The data for 2023 show that the personal transfers that arrived to Serbia were at the level of 6.1% of the GDP, to Bosnia and Herzegovina 7.2%, Albania 5.4%, Montenegro 4.8%, North Macedonia 2.2%, and to the territory of Kosovo and Metohija as much as 13.4% of the GDP.

In the EU, personal transfers of over 1% of the GDP were only recorded in Croatia (2.9%), Bulgaria (1.5%), Portugal (1.3%) and Romania (1.1%).

In 2023, EU residents sent a total of EUR 50.9 billion to countries which are not members of the Union, 8% more than a year before.

On the other hand, the inflow of personal transfers to the EU was EUR 13.9 billion, 4% higher than in 2022.

In nine EU member states, the inflow of personal transfers exceeded the outflow, announced EUROSTAT.

EUROSTAT

personal transfers

personal transfer inflow