Remittance Inflows to GDP for Liberia
DDOI11LRA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.89
Year-over-Year Change
364.23%
Date Range
1/1/2004 - 1/1/2017
Summary
This trend measures remittance inflows as a percentage of Liberia's gross domestic product (GDP), providing insight into the importance of international money transfers to the country's 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, or money sent home by Liberian workers living abroad, are a significant component of Liberia's economy. This metric tracks the scale of these cross-border personal financial transfers relative to the country's overall economic output.
Methodology
The data is collected and calculated by the World Bank using official government statistics and household survey information.
Historical Context
Remittance flows are closely monitored by policymakers and economists as they can influence exchange rates, investment, and consumption patterns.
Key Facts
- Liberia's remittance inflows were 31% of GDP in 2021.
- Remittances help reduce poverty and support household consumption in Liberia.
- Over 200,000 Liberians live abroad, contributing to high remittance levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of remittance inflows to Liberia as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: Remittance flows are an important economic indicator for Liberia, as they provide insight into the role of international money transfers in supporting household incomes and consumption.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official government statistics and household survey information.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor remittance inflows as they can influence exchange rates, investment, and consumption patterns in Liberia.
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 Liberia (DDOI11LRA156NWDB), retrieved from FRED.