Remittance Inflows to GDP for Albania
DDOI11ALA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.69
Year-over-Year Change
-33.11%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for Albania' metric measures the percentage of Albania's gross domestic product (GDP) that comes from remittances, or money sent home by Albanians working abroad. This is an important economic indicator for policymakers and analysts studying Albania's reliance on foreign income sources.
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 a significant portion of Albania's GDP, reflecting the important role of labor migration and overseas earnings in the country's economy. This metric is used by economists and government officials to understand Albania's dependence on external capital flows and assess the broader impacts of remittances on economic growth, household consumption, and development.
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 as they can have significant macroeconomic implications, influencing exchange rates, consumption patterns, and the overall stability of Albania's economy.
Key Facts
- Remittances account for over 10% of Albania's GDP.
- Albania is among the top recipients of remittances as a share of GDP globally.
- Remittance inflows help support household consumption and reduce poverty in Albania.
FAQs
Q: What does this economic trend measure?
A: The 'Remittance Inflows to GDP for Albania' metric measures the percentage of Albania's gross domestic product (GDP) that comes from remittances, or money sent home by Albanians working abroad.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Albania's reliance on foreign income sources and the broader impacts of remittances on the country's economic growth, household consumption, and development.
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 Albania as they can have significant macroeconomic implications, influencing exchange rates, consumption patterns, and the overall stability of the country's economy.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be some delays in the most recent figures being available.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Albania (DDOI11ALA156NWDB), retrieved from FRED.