Malta recorded the highest share of personal transfers sent outside the European Union in 2024, highlighting the scale of money flowing out of the country to non-EU households, according to figures published by Eurostat.
Across the EU, households sent €52.1 billion to non-EU countries last year, a 6% increase on 2023. While money flowing into the EU also rose to €14.8 billion, the gap between outflows and inflows continued to widen, leaving the bloc with a net deficit of €37.3 billion.
Malta stood out among member states, with net outflows of personal transfers equivalent to 2.8% of its gross domestic product, the highest proportion in the EU. This means that, relative to the size of its economy, Malta sent more money abroad than any other member state.
Cyprus followed with a deficit of 0.9% of GDP, while Belgium recorded a shortfall of 0.6%. Greece, Spain and France each registered deficits of around 0.5% of GDP.
By contrast, nine EU countries recorded a surplus, receiving more money from abroad than they sent. Croatia posted the largest surplus at 2.6% of GDP, followed by Bulgaria at 1.3% and Portugal at 1.2%.
Eurostat data show that over the past five years, money sent from the EU to non-EU countries has increased by more than 50%, far outpacing the growth in inflows. The trend reflects the growing importance of remittances, particularly in countries with large foreign workforces, such as Malta, where outward transfers represent a significant economic factor.
