In 2013, the payment transactions from Germany to bank accounts in Croatia totalled 121 million euros, whereas in 2016 the money transferred in this way came to EUR 149 million and a year after to 187 million.
In terms of the amount of money orders forwarded from Germany, Croatia ranks sixth, and Turkey tops the ranking with EUR 816 million sent from Germany to payees' accounts in Turkish banks. Poland ranks second (440 million), Italy follows with 353 million euro in transactions from Germany, and Romania and Greece are the fourth and the fifth ranked with EUR 333 mn and 191 mn respectively.
The volume of money transfers made by foreign workers in Germany to private bank accounts in their countries of origin has soared.
In 2015, payment transactions of workers employed in German who sent funds to payees' accounts outside Germany totalled 3.5 billion euros, and this volume increased to EUR 4.6 billion in 2017.
The highest jump was registered in payment transactions made by Syrians and Afghans in Germany due to a rising number of migrants coming from those two Asian countries into the largest European economy.
Furthermore, the number of Bulgarians and Romanians emigrating into Germany has tripled which has resulted in more and more transfers of funds to their fellow countrymen who stay in homelands.
Funds transferred from Germany to Bosnia and Herzegovina increased to 91 million euros in 2017, rising thus by 11 million in comparison to 2013. Last year, the funds transferred to payees' bank account in Serbia came to 108 million euro.