Remittance Inflows to GDP for Bangladesh
DDOI11BDA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.82
Year-over-Year Change
-40.38%
Date Range
1/1/1976 - 1/1/2020
Summary
This economic indicator measures the ratio of remittance inflows to GDP in Bangladesh. It provides insight into the importance of international money transfers to the country's overall economic activity.
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 refer to money sent by Bangladeshi citizens working abroad back to their home country. This metric expresses those inflows as a percentage of Bangladesh's gross domestic product, offering a sense of their macroeconomic significance.
Methodology
The data is collected and calculated by the World Bank using official government sources.
Historical Context
Policymakers and economists analyze this trend to understand Bangladesh's reliance on overseas worker remittances and their role in driving economic growth.
Key Facts
- Remittances account for over 5% of Bangladesh's GDP.
- Bangladesh is among the top 10 largest remittance-receiving countries globally.
- Overseas Bangladeshi workers sent home over $20 billion in 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the ratio of remittance inflows to Bangladesh's gross domestic product. It reflects the importance of money sent home by Bangladeshi citizens working abroad to the country's overall economic activity.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Bangladesh's reliance on overseas worker remittances, which are a significant driver of economic growth and development for the country.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official government sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand the macroeconomic importance of remittance inflows and their role in shaping Bangladesh's economic growth and development strategies.
Q: Are there update delays or limitations?
A: The data is published annually with some delay, as it relies on official government sources.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Bangladesh (DDOI11BDA156NWDB), retrieved from FRED.