Remittance Inflows to GDP for Sweden
DDOI11SEA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.57
Year-over-Year Change
-27.84%
Date Range
1/1/1970 - 1/1/2020
Summary
This economic trend measures the ratio of remittance inflows to Sweden's gross domestic product (GDP), providing insights into the role of international money transfers in the Swedish 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 the money sent home by foreign workers and migrants to their countries of origin. This trend is used by economists and policymakers to analyze the importance of cross-border money flows and their impact on a nation's economic development and household incomes.
Methodology
The data is collected and calculated by the World Bank based on reports from central banks, national statistical agencies, and household surveys.
Historical Context
Remittance inflows are relevant for understanding labor mobility, international trade, and financial integration within the Swedish and European economies.
Key Facts
- Remittance inflows to Sweden were 0.6% of GDP in 2020.
- Sweden ranks 28th globally for remittance inflows as a share of GDP.
- Remittance flows are an important source of household income for many developing economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of remittance inflows to Sweden's gross domestic product (GDP), providing insights into the role of international money transfers in the Swedish economy.
Q: Why is this trend relevant for users or analysts?
A: Remittance inflows are an important indicator of labor mobility, international trade, and financial integration, which are all relevant for understanding the Swedish and European economies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on reports from central banks, national statistical agencies, and household surveys.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to analyze the importance of cross-border money flows and their impact on a nation's economic development and household incomes.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year in the most recent figures being available.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Sweden (DDOI11SEA156NWDB), retrieved from FRED.