| Summary: | Balance of payments and international investment position data are critical in formulating national and
international economic policy. Certain aspects of the balance of payments data, such as payment imbalances and foreign
direct investment, are key issues that a nation's policymakers seek to address.By studying BOP statement and its components
closely, we would be able to identify trends that may be beneficial or harmful to the economy of the county and thus, then
take appropriate measures, moreover the BOP provides important information to analyze and understand the economic
dealings of a country with other countries.Considering the importance of this category of transfers in the home countries, in
accordance with the high amounts achieved and the strong growth, not only in Macedonia but also in the region, these
transfers cause increased interest among the scientific community, especially in terms of their potential to support economic
country development. Despite the high amounts of registered inflows from emigrants and seasonal workers abroad, it is
believed that the volume of funds arriving through informal channels is large. The Republic of North Macedonia is
characterized by a long tradition of migration. Although the most popular destinations are known, the exact number of
migrants abroad is not fully known. Considering the above mentioned, the subject of this paper will be an analysis of the role
and importance of private transfers as an important category in the balance of payments of the Republic of North
Macedonia, their role in improving the country's gross domestic product and relevance in improving living standards. of the
population as a last resort. The paper will apply relevant reports from renowned international institutions that are most
prominent on this issue, and through appropriate analysis will draw specific conclusions.
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