- 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).
- Contact organization / person
- Ministry of Finance (MOF)
- Unit of measure
- Percentage (%)
- Other characteristics
- N/A
- 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.
- Recommended uses
- This indicator is used to measure development and welfare objectives met by the government.
- 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/.
- Target 2030
- 3. Mobilize additional financial resources for developing countries from multiple sources
