Remittance Inflows to GDP for Estonia
DDOI11EEA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.65
Year-over-Year Change
-3.36%
Date Range
1/1/1995 - 1/1/2020
Summary
This economic trend measures the inflow of remittances to Estonia as a percentage of its GDP. Remittances, which are personal funds transferred from foreign workers to their home countries, provide important insights into a country's economic ties and reliance on foreign labor.
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
The 'Remittance Inflows to GDP' metric tracks the flow of funds sent by Estonian residents working abroad back to the domestic economy. This data point is useful for analyzing Estonia's integration into global labor markets and the role of foreign employment in supporting national GDP.
Methodology
The data is collected and reported by the World Bank using information provided by national central banks and statistical agencies.
Historical Context
Policymakers and economists use this indicator to assess Estonia's economic dependence on foreign labor and cross-border financial flows.
Key Facts
- Remittances accounted for over 2% of Estonia's GDP in 2021.
- Estonia has one of the highest remittance inflow rates in the European Union.
- Remittances have grown steadily in Estonia since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of personal remittances received by Estonia as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: Remittance inflows are an important indicator of a country's economic integration and reliance on foreign labor. This data helps policymakers and economists understand Estonia's dependence on cross-border financial flows.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank using information provided by Estonia's central bank and statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess Estonia's economic ties to global labor markets and the role of foreign employment in supporting national GDP.
Q: Are there update delays or limitations?
A: There may be some delay in reporting as the data is collected from national sources, but the World Bank provides timely updates on an annual basis.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Estonia (DDOI11EEA156NWDB), retrieved from FRED.