Remittance Inflows to GDP for Kiribati
DDOI11KIA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.24
Year-over-Year Change
-19.09%
Date Range
1/1/1979 - 1/1/2020
Summary
This trend measures remittance inflows as a percentage of GDP for Kiribati, a Pacific island nation. It provides insights into the importance of foreign money transfers to the Kiribati 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 represent money sent home by Kiribati citizens working abroad to their families and communities. This metric is a key indicator of the country's economic reliance on these foreign financial flows.
Methodology
The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Remittance levels are closely monitored by policymakers to understand the resilience and vulnerabilities of Kiribati's economy.
Key Facts
- Kiribati is a remote Pacific island nation.
- Remittances account for over 10% of Kiribati's GDP.
- Foreign money transfers are a crucial economic lifeline for Kiribati.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of remittance inflows to Kiribati 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 Kiribati's economic reliance on foreign money transfers, which provide a crucial source of income for many households.
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: Policymakers in Kiribati and international institutions closely monitor remittance levels to understand the resilience and vulnerabilities of the country's economy.
Q: Are there update delays or limitations?
A: The data may have update delays of several months and can be affected by changes in reporting methodologies or coverage.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Kiribati (DDOI11KIA156NWDB), retrieved from FRED.