Kosovo emigrants living in different parts of the world have sent over 12 billion euros to their families.
This amount of money was sent from 2008 to 2020. The highest value of money is that of 2020, where despite the pandemic the diaspora has sent 1.18 billion euros.
Emigration continues to be one of the main sources of financing family expenses in Kosovo.
Since declaring independence, their remittances have continued to grow.
World Bank data show that 12.6 billion euros were sent within this period.
The largest value of remittances is that of 2020, where despite the COVID-19 pandemic the diaspora has sent 1.18 billion euros.
According to the WB, the share of remittances in Kosovo’s Gross Domestic Product is 18.5 percent.
Amount of remittances sent by years in Kosovo: 2008 – 858 million euros, 2009 – 865 million euros, 2010 – 825 million, 2011 – 814 million euros, 2012 – 775 million euros, 2013 – 867 million euros, 2014 – 901 million euros , 2015 – 796 million euros, 2016 – 808 million euros, 2017 – 911 million euros, 2018 – 1.13 billion euros, 2019 – 1.23 billion euros and 2020 – 1.8 billion euros.
The Central Bank of Kosovo says that in 2020 128.5 million euros more were sent compared to 2019.
The highest value within 2020 sent to Kosovo was in May with 104 million euros, while the least was sent in April, 61.7 million euros
In terms of diaspora remittances by country, Germany is the country where most money is sent to Kosovo.
During 2020, it turns out that Germany received an average of 42.3 percent of remittances, followed by Switzerland with 22.3 percent and the United States with 6.4 percent.
For the fourth period of 2020, the increase in remittances is by 26.3 percent.
“Within the balance of payments, significant increases in the fourth quarter of 2020 have marked remittances by 26.3 percent,” said in the report “Quarterly assessment of macroeconomic developments, fourth quarter 2020. Despite the fact that countries where concentrated Kosovar diaspora have been hit hard by the pandemic crisis, remittances have accelerated growth. “The increase in remittances has been in double digits throughout the period, except for March 2020 and April 2020 when they declined.”
According to the delivery channels, the Central Bank of Kosovo says that 672 million euros were transferred through the first delivery agencies, while the rest through commercial banks.
“The vast majority of remittances (61.5 percent) came through money transfer agencies, which marked an increase of 54.4 percent in the fourth quarter of 2020. “Remittances through banks increased by 29.1 percent, while remittances through the ‘informal channel’ decreased by 13.6 percent,” said the macroeconomic report.
From the preliminary results of the diaspora census, the number of Kosovo citizens living in different countries of Europe and the world, who have responded to the census is about 350 thousand.