Albanian emigrants have increased the amount of money they send to their families back home.
According to the Bank of Albania, this trend has been driven by the country’s entry into the SEPA system, which has significantly reduced transfer costs.
According to the Balance of Payments Analysis, remittances reached €274.3 million in the second quarter of this year. The annual growth rate of remittances slowed slightly to 9.4%, from 10.8% in the previous quarter, but remains above the 2025 average rate of 7.0%.
As a share of GDP, remittances increased slightly to 4.3%, from 4.2% in the first quarter of 2025, continuing to support growth in households’ disposable income and private consumption in the country.
“Annual remittance growth rates have accelerated since the fourth quarter of 2025, a period that coincides with the start of SEPA operations in Albania. This development suggests that lower costs and increased efficiency of cross-border euro transfers may have contributed to the increase in remittance inflows,” the Bank of Albania’s analysis states.
Since October last year, when Albania joined SEPA, incoming payments from emigrants (remittances) have cost a maximum of €3. The significant reduction in costs has led many emigrants to choose official channels and bank transfers to send money to their relatives, rather than sending cash.
The post SEPA boosts remittances, Bank of Albania: Lower costs have increased transfers from emigrants appeared first on Euronews Albania.
