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Immigrants are "holding" the country/ Transfers to Albania for one year reach 1.14 billion Euros

2023-01-30 07:49:26Biznes SHKRUAR NGA REDAKSIA VOX

Immigrants are "holding" the country/ Transfers to Albania for one

Italy is the main source of emigrant shipments to Albania. According to data from Eurostat for 2021, personal transfers from Italy were worth 279 million euros, or about 24.5% of the total. Shipments from Italy increased by 7.2% compared to 2020.

Meanwhile, Great Britain has been consolidating for years the second place in terms of the value of transfers to Albania. According to Eurostat, for 2021, the value of these remittances reached 206.5 million euros or 18.1% of incoming personal transfer flows. Growth in shipments from the UK was slower, at 1%, compared to 2020.

In the third place and with significant growth is Germany. In 2021, the value of transfers from Germany reached 172.8 million euros or 15.2% of the total. Transfers from Germany have recorded a high increase, by 20.4% more compared to 2020, while compared to 2017 they have increased by 71%, as this country has become one of the most preferred destinations for immigrants in recent years.

The fourth partner in terms of the value of remittances sent is Greece, with a value of 172.3 million euros, or about 15.1% of the total in 2021. Although the weight of Greece in the structure of new Albanian immigration is estimated to be lower, especially in the post-Greek economic crisis period, transfers from Greece have also increased, by 2% more compared to 2020.

An important weight in the total transfers to Albania is also North America, mainly the USA (Eurostat presented the figures at the level of the continent, without division between the USA and Canada). Shipments from North America in 2021 reached the value of 128.1 million euros or 11.2% of the total. Transfers from the Americas have increased by 27% compared to 2020, showing the highest growth rate among the top five partner countries.

The countries from which emigrant shipments to Albania come reflect the emigration trends and especially the new wave of the last decade. The increase in the number of Albanian emigrants to Great Britain and Germany has also brought a significant increase in remittances from these countries. While Italy continues to top the ranking of inbound shipments, Greece's weight appears to have declined over the past decade, now ranking fourth.

According to data from Eurostat, transfers or personal remittances to Albania in 2021 reached 1.14 billion euros, an increase of 10% compared to the previous year. The figures reported by Eurostat, in fact, give significantly higher values ​​than those published by the Bank of Albania.

For comparison, according to the Balance of Payments of the Bank of Albania, income from immigrants within the item of secondary income in the current account had the value of 761 million euros, which is about 33% lower than what Eurostat reports./Monitor


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