Remittance Inflows to GDP for Spain
DDOI11ESA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.23
Year-over-Year Change
107.33%
Date Range
1/1/1975 - 1/1/2020
Summary
This economic trend measures the personal remittance inflows to Spain as a percentage of its GDP. Remittances are an important economic indicator for many countries, reflecting international labor migration and diaspora investment.
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
Remittance inflows to GDP represent the value of personal remittances received by Spain as a share of its total economic output. This data is used by economists and policymakers to understand the role of international migration and cross-border payments in the Spanish economy.
Methodology
The data is collected and reported by the World Bank using balance of payments statistics.
Historical Context
Remittance flows are a key consideration for economic and migration policy in many countries.
Key Facts
- Remittances are the second-largest source of external finance for developing countries after foreign direct investment.
- Spain received over $12 billion in personal remittances in 2021, up 22% from the previous year.
- Remittance inflows to Spain equal about 1.2% of its total GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of personal remittances received by Spain 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 economic indicator, reflecting cross-border payments, international migration patterns, and the role of the diaspora in the Spanish economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank using balance of payments statistics.
Q: How is this trend used in economic policy?
A: Remittance flows are a key consideration for economic and migration policy in many countries, including Spain.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be immediately available.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Spain (DDOI11ESA156NWDB), retrieved from FRED.