With Mass Emigration, Remittances from Germany to Croatia Grow Substantially

Total Croatia News

Among foreigners working in Germany, Croatians are in the sixth position with regards to the amount of money sent to the homeland.

The amount of annual remittances sent by Croatians living and working in Germany to bank accounts in Croatia has been steadily increasing in the past years, reaching 187 million euro in 2017, the German Central Bank announced, reports Večernji List on September 7, 2018.

“In 2013, 121 million euro was transferred to Croatia via wire transfers from German banks. In 2016, the amount reached 149 million euro and a year later, in 2017, 187 million euro has been transferred,” said Ina Christ, a spokeswoman for the German Bundesbank, headquartered in Frankfurt.

According to the amount of remittances, Croatia is in the sixth position, behind Turkey (816 million euro), Poland (440 million euro), Italy (353 million euro), Romania (333 million euro) and Greece (191 million euro).

The total amount of remittances abroad has increased considerably in recent years.

In 2015, foreign workers in Germany paid a total of 3.5 billion euros to private bank accounts, while in 2017 this amount increased to 4.6 billion euro.

The biggest increase in payments has been observed with regards to people from Syria and Afghanistan, who have only started to emigrate to Germany in larger numbers in 2015.

Among the European citizens, the biggest jump occurred in transactions to Bulgaria and Romania, which have tripled in recent years.

With regards to the neighbouring countries, 91 million euro was paid to bank accounts in Bosnia and Herzegovina, which was an increase of 11 million euro compared to 2013. As for Serbia, 108 million euro was paid by Serbian nationals living in Germany.

Translated from Večernji List.


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