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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Macedonias 2013 tobacco crop expected to exceed 30,000 tonnes.

Macedonias tobacco crop is expected to increase by 20% to over 30,000 tonnes in 2013, Utrinski vesnik daily reported quoting Danco Mileski, president of the countrys tobacco association. The ... more

Macedonia cancels tender for gas distribution network feasibility study.

The transport ministry has cancelled the tender for preparing a feasibility study for developing the countrys natural gas distribution network, build.mk portal reported. Reportedly, two bids were ... more

Komercijalna Banka wins Global Finance award Best Bank in Macedonia for 2013.

Large-sized commercial bank Komercijalna Banka announced that it has won the award Best Bank in Macedonia for 2013 by the magazine Global Finance. The Macedonian bank wins the award for a 10th ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    10 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  4. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  5. Russia’s war economy boosted by rising oil prices
    4 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    25 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    23 days ago

Reports

Dismiss