A remittance is a net money transfer from abroad with no refund. These kinds of transfers are among the components of the current account in the balance of payments.

Open Data Albania has conducted a research work on the level of remittances in the recent years in Albania and Kosovo. Data are based on the Bank of Albania and the Central Bank of the Republic of Kosovo statistics.

The remittances sent by Albanian and Kosovar emigrants have changed as shown in the following chart:


Source: Bank of Albania, Central Bank of the Republic of Kosovo
Comments and Analysis: ODA

In 2009, the level of remittances in Albania is €781 million, while in Kosovo it equals €506 million. Even though in absolute terms the level of remittances in Albania is higher than in Kosovo, given the fact that the number of emigrants varies, it seems that the level of remittances in Kosovo compared to the number of emigrants is higher than in Albania.

Although the trend of remittances in Albania and Kosovo is similar, especially after the financial crisis of 2008-2009, it can be noticed that the remittances growth rate has fallen more significantly in Albania. In practical terms:


Source: Bank of Albania, Central Bank of the Republic of Kosovo
Comments and Analysis: ODA

In 2009, both countries’ remittances fell by 6% compared to the previous year, but in 2008, remittances were still increasing in Kosovo (4%) while in Albania they decreased by 13% compared to 2007. It means that the impact of the 2008-2009 financial crisis is reflected later in the Kosovar emigrants’ remittances compared to the Albanian ones.

In the long-term, the reduction of remittances is expected to increase the current deficit and slowdown the economic development in absence of improvement in the other macroeconomic indicators.

The dataset on remittances in Albania and Kosovo is presented in the table below:


Source: Bank of Albania, Central Bank of the Republic of Kosovo
Comments and Analysis: ODA