Remittance Inflows to GDP for Ethiopia
DDOI11ETA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.38
Year-over-Year Change
-73.73%
Date Range
1/1/1981 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for Ethiopia' trend measures the value of personal remittances received as a percentage of Ethiopia's gross domestic product (GDP). This metric is important for economists and policymakers to assess the role of remittances in the Ethiopian economy.
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 refer to the personal transfers and compensation of employees from Ethiopians working abroad to residents in Ethiopia. This trend provides insight into the dependence of the Ethiopian economy on international money transfers, which can have significant impacts on household incomes, foreign exchange reserves, and economic growth.
Methodology
The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Remittance inflows are closely monitored by policymakers to understand their effects on macroeconomic stability and development priorities.
Key Facts
- Remittances accounted for over 5% of Ethiopia's GDP in 2020.
- Ethiopia is one of the largest recipients of remittances in Sub-Saharan Africa.
- Remittance inflows help support household consumption and reduce poverty in Ethiopia.
FAQs
Q: What does this economic trend measure?
A: The 'Remittance Inflows to GDP for Ethiopia' trend measures the value of personal remittances received as a percentage of Ethiopia's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the role of international money transfers in the Ethiopian economy, which can have significant impacts on household incomes, foreign exchange reserves, and economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Remittance inflows are closely monitored by policymakers in Ethiopia to understand their effects on macroeconomic stability and development priorities.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Ethiopia (DDOI11ETA156NWDB), retrieved from FRED.