Description: Volume of remittances (in United States dollars) as a proportion of total GDP
Unit200820092010201120122013201420152016201720182019202020212022
%4.34.54.443.93.63.63.73.93.83.93.95.75.34.8
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DATA IDENTIFICATION


Name
Volume of remittances (in United States dollars) as a proportion of total GDP
Indicator purpose

The indicator provides volume of remittances expressed as a percentage of Gross Domestic Product (GDP).

Abstract

Personal remittances received as proportion of GDP is the inflow of personal remittances expressed as a percentage of Gross Domestic Product (GDP).

Data source

Ministry of Finance (MOF)

DATA CHARACTERISTICS



Contact organization person

Ministry of Finance (MOF)

Date last updated
28-OCT-2019
Periodicity

Annual

Unit of measure

Percentage (%)

Other characteristics

N/A

DATA CONCEPTS and CLASSIFICATIONS



Classification used

Personal remittances comprise of personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from non-resident households. Personal transfers thus include all current transfers between resident and non-resident individuals.

Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by non-resident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.

The concepts used are in line with the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).

Disaggregation

N/A

Key statistical concepts

Personal remittances are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. World Bank staff estimates on the volume of personal remittances data are used for gap-filling purposes. GDP data, sourced from the World Bank’s World Development Indicators (WDI) database, are then used to express the indicator as a percentage of GDP.

Formula
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OTHER ASPECTS



Recommended uses

This indicator is used to measure development and welfare objectives met by the government.

Limitations

N/A

Other comments

All the metadata shown in this document was gathered from United Nation Statistics Division. The metadata was extracted from https://unstats.un.org/sdgs/metadata/.