Albanian emigrants sent in the first six months of 2009 a total of 394 million Euros to their families back in Albania, 6.1 percent less than the same period last year, according to the figures released by the Albania’s Central Bank.
This drop of money transfer is largely due to the global economic crises. The amount of money sent to Albania by the 1 million emigrants based in USA and EU has been in constant decrease since 2006. In 2009 this amount fell in its lowest, while in 2007 Albanian emigrants sent home 883 million Euros, 12 percent less than in 2007.
These moneys originating from Albanian emigrant workers are a crucial economic and social factor helping impoverished families, especially in the rural areas in north, covering the basic everyday costs like bills, food and fuel for nearly half of Albania’s households.
Last year, Albanian emigrants’ moneys added about 10.6 percent to the national GDP, compared with 14.6 percent in 2005.