North Macedonia: Remittances

* indicates monthly or quarterly data series
 North Macedonia

Remittances, million USD

 Latest value 462.42
 Year 2023
 Measure million U.S. dollars
 Data availability 1996 - 2023
 Average 290.51
 Min - Max 63.24 - 489.64
 Source The World Bank
The latest value from 2023 is 462.42 million U.S. dollars, an increase from 456.56 million U.S. dollars in 2022. In comparison, the world average is 4590.03 million U.S. dollars, based on data from 184 countries. Historically, the average for North Macedonia from 1996 to 2023 is 290.51 million U.S. dollars. The minimum value, 63.24 million U.S. dollars, was reached in 1998 while the maximum of 489.64 million U.S. dollars was recorded in 2021. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
North Macedonia - Remittances - Recent values chart

Historical series
North Macedonia - Remittances - historical chart - 1996-2023




Remittances are the money sent home by people who work in a foreign country. These are, for example, the money sent to Mexico by Mexican workers in the U.S.
Definition: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

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 Related indicators Latest Reference Measure
 Terms of trade 87.86 2021 percent
 Trade openness 159.10 2023 percent
 Financial openness -0.042 2021 index points
 Exports, percent of GDP 72.79 2023 percent
 Exports, billion dollars 10.75 2023 billion U.S. dollars
 Growth of exports -0.13 2023 percent
 Imports, percent of GDP 86.31 2023 percent
 Imports, billion dollars 12.74 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 4.76 2023 percent
 Foreign Direct Investment, billion dollars 0.85 2022 billion U.S. dollars
 Portfolio investment inflows, equities -0.48 2023 million dollars (current)
 Current account, percent of GDP -6.74 2022 percent
 Current account, in dollars 0.10 2023 billion U.S. dollars
 Trade balance, percent of GDP -13.51 2023 percent
 Trade balance, in dollars -2.00 2023 billion U.S. dollars
 Reserves 5.01 2023 billion U.S. dollars
 Remittances, percent of GDP 3.13 2023 percent
 Remittances 462.42 2023 million U.S. dollars
 Net errors and omissions 73.35 2023 million USD
 External debt 89.26 2022 percent
 Short-term external debt 16.98 2022 percent
 Short-term debt to reserves 47.70 2022 percent
 Foreign exchange reserves 4.41 9/2024 billion
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