Macedonian migrants sent USD 1.4bn in 2009 to their families.

By bne IntelliNews December 16, 2009
The money from Macedonian migrants and pensions paid from foreign countries to Macedonians will amount to about USD 1.4bn in 2009, a study for the economic and social effects of migration quoted by the local media showed. This sum equals triple the FDI for 2009 and has also covered half of the current account deficit. The money that migrants send to their relatives in Macedonia have swollen 23 times since 1993. The number of Macedonians living abroad is estimated at 400,000 to 500,000 and one-third of them are helping their families in Macedonia financially. Macedonians are living in 35 countries abroad with their highest number being in Italy 24.8% of all migrants, followed by the United States (10%), Switzerland (9%), Germany (8%), Slovenia 6.5%), Canada and Australia. The top two reasons for Macedonians to move abroad are the unemployment and the low standard of living in their homeland.

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