Remittance Inflows to GDP for El Salvador
DDOI11SVA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.07
Year-over-Year Change
15.31%
Date Range
1/1/1976 - 1/1/2020
Summary
This trend measures the value of remittance inflows to El Salvador as a percentage of its gross domestic product (GDP). Remittances, or funds sent by migrant workers to their home countries, are an important economic factor for many developing nations.
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 is a key indicator of the role that foreign money transfers play in a country's economy. For El Salvador, which relies heavily on remittances from citizens working abroad, this metric provides insight into the scale and significance of these financial flows.
Methodology
The data is calculated by the World Bank using official government statistics and central bank records.
Historical Context
Policymakers and analysts use this trend to assess El Salvador's economic dependence on remittances and the potential impacts of changes in migrant worker flows.
Key Facts
- Remittances make up over 20% of El Salvador's GDP.
- The US is the largest source of remittances to El Salvador.
- Remittance inflows have grown steadily over the past two decades.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of remittance inflows to El Salvador as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: Remittances are a critical economic factor for El Salvador, and this metric provides insight into the scale and importance of these foreign money transfers to the country's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official government statistics and central bank records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess El Salvador's economic dependence on remittances and the potential impacts of changes in migrant worker flows.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be lags in availability compared to real-time economic conditions.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for El Salvador (DDOI11SVA156NWDB), retrieved from FRED.