Diaspora sends 35 billion BAM to Bosnia and Herzegovina over 17 years

Diaspora sends 35 billion BAM to Bosnia and Herzegovina over 17 years

Bosnians around the world together with their families and friends have sent about 35 billion BAM to their home country from 1998 to 2015.

According to data of the Central Bank of B&H, diaspora sent 2,013 billion in 1998, 2.017 billion in 1999, 2.016 billion in 2000, 2.007 billion in 2001, 1.966 billion in 2002, 1.973 billion in 2003, 2.317 billion in 2004, 2.318 billion in 2005, and 2.468 billion in 2006.

Also according to the same Central Bank of B&H data which has kept records on the remittances from 1998, the largest transfer was recorded in 2007 in which 2.770 billion BAM was deposited into citizens’ accounts. The smallest transfer was recorded in 2002 in the amount of 1.966 billion.

The same source shows that in 2008, Diaspora sent 2.522 billion in B&H, in 2009 – 2.010 billion, in 2010 – 1.984 billion, in 2011 – 2.008 billion, in 2012 – 2.093 billion, in 2013 – 2.145 billion and in 2014 2.275 billion were sent.

During the first three months of year 2015, remittances of B&H citizens living and working abroad amounted to 493.6 million KM, which is 17.6 million more than in the same period in year of 2014.

Almost every year B&H Diaspora sends more than two billion BAM home.

Experts believe that the money sent by B&H Diaspora to their homeland is very important for the economic development of Bosnia and Herzegovina as it comprises a significant part of the Gross Domestic Product (GDP) of the country.

According to estimates of the World Diaspora Association of Bosnia and Herzegovina (SSDBiH) more than 1.3 million BiH citizens live abroad, and data from other institutions show that there are actually between 1.5 to 2 million.

The population of Bosnia and Herzegovina is estimated at 4 million people, which means that every third Bosnian lives abroad. Most of the B&H Diaspora fled or were expelled from their homes during the war from 1992 to 1995.

There are currently 180,000 citizens of B&H livingi in Germany, in the US 145,000, 90,000 in Austria, in Sweden 54.000, 45.000 in Turkey, in Switzerland 40,000, in Australia 35,000 and finally 30,000 in Canada.

(Source: N1)

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