Germany mostly sends money to Kosovo

Germany is the state where Kosovars mostly send money, then rank Switzerland and the United States of America with diaspora remittances.

In the first part of 2019, the increase in remittances is 4.5 percent greater than the year 2018. Also, increasing the value of remittances from fellow countrymen compared to last year is higher.

“Remits accepted in Kosovo, which simultaneously represent the largest category in terms of the secondary income account, marked the value of 113m euros by February 2019, or 4.5 percent more compared to the same period in 2018<18x1>, says the “assessment of macroeconomic developments, the first quarter 2019”, the Telegraph.

The remittances accepted in Kosovo by the diaspora, which simultaneously present the largest category under the secondary income account, according to Kosovo Central Bank data, mostly come from Germany followed by Switzerland, the US, Italy, Austria, France and other states.

“Remits accepted in Kosovo mainly come from Germany and Switzerland, these countries that send 40.4 percent of the total remittances, respectively. A significant portion of the remittances has been accepted by the United States, or 6.7 percent of the total remittances accepted in Kosovo”, the report follows.

As far as remittances are concerned, our country is the fourth economy in the Europe region.

“With 15.9 percent, Kosovo is the fourth economy in the region of Europe and Central Asia, for the percentage of remittances to Bruto's production for 2018<18x1>, this has been made known in the World Bank's report on Migration and Development, writes Telegrafi.

The report also analyses the cost of sending remittances and has found that in this region countries where it is most expensive to send remittances are Switzerland and Turkey. The average cost of delivering remittances of $200 within the region of Europe and Central Asia is 6.6 percent.

According to World Bank data, the world estimates that over $574 billion was sent from immigrants to relatives.

“Nepali has received about $6.6 billion in remittances, equivalent to 31.3 percent of its Bruto domestic production, followed by Kyrgyzstan, which received two billion remittances, equivalent to 30.4 percent of the production of Brto and Tajikistan, has received about $1.9 billion equal to 26.9 percent of Bruto's domestic production. Outside remittances also equal more than a quarter of Bruto's domestic production for Haiti and Liberia. In nine other countries they were equivalents between 15 and 25 percent of the domestic production Bruto”, the World Bank report follows.

Of the preliminary results of the diaspora census, the number of Kosovo citizens living in different countries in Europe and the world, which have responded to the census, is about 350,000.