Remittance Inflows to GDP for Cote d'Ivoire
DDOI11CIA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.54
Year-over-Year Change
-8.45%
Date Range
1/1/1975 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for Cote d'Ivoire' metric measures the value of personal remittances received as a percentage of the country's gross domestic product. This trend provides insight into the economic reliance on international money transfers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This indicator represents the flow of funds from Ivorian citizens working abroad back to their home country. Remittances play a vital role in supporting household incomes and economic development in Cote d'Ivoire.
Methodology
The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Policymakers and economists use this metric to assess Cote d'Ivoire's integration into the global economy and the importance of foreign labor income.
Key Facts
- Remittances accounted for 2.4% of Cote d'Ivoire's GDP in 2020.
- Cote d'Ivoire is the largest recipient of remittances in West Africa.
- Remittances provide a crucial source of income for many Ivorian households.
FAQs
Q: What does this economic trend measure?
A: This metric measures the value of personal remittances received by Cote d'Ivoire as a percentage of its gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Remittance inflows are an important indicator of Cote d'Ivoire's integration into the global economy and the reliance of its citizens on foreign labor income.
Q: How is this data collected or calculated?
A: The World Bank collects and calculates this data using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the role of remittances in supporting household incomes and economic development in Cote d'Ivoire.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture all informal remittance channels.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Cote d'Ivoire (DDOI11CIA156NWDB), retrieved from FRED.