Remittance Inflows to GDP for the Plurinational State of Bolivia
DDOI11BOA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.08
Year-over-Year Change
-54.81%
Date Range
1/1/1976 - 1/1/2020
Summary
This economic trend measures remittance inflows as a percentage of Bolivia's GDP, providing insight into the importance of international money transfers to the Bolivian 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 funds sent by Bolivian expatriates and foreign workers back to family and friends in Bolivia. This metric is a key indicator of Bolivia's reliance on overseas income sources and the impact of migration on its economic development.
Methodology
The data is collected and calculated by the World Bank using official government statistics.
Historical Context
Policymakers and economists analyze remittance inflows to GDP to assess the role of international migration and diaspora communities in Bolivia's economic growth and stability.
Key Facts
- Remittances account for over 3% of Bolivia's GDP.
- Bolivia ranks among the top 20 remittance-receiving countries globally.
- Remittance inflows to Bolivia have grown by over 50% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of remittance inflows to Bolivia as a percentage of its gross domestic product (GDP), providing insight into the importance of international money transfers to the Bolivian economy.
Q: Why is this trend relevant for users or analysts?
A: Remittance inflows are a crucial component of Bolivia's economic activity, supporting household incomes and serving as a stabilizing force during economic downturns. Analyzing this trend helps policymakers and economists assess the impact of international migration and the Bolivian diaspora on the country's development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official government statistics and balance of payments data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to understand the role of remittance inflows in Bolivia's economic growth, household incomes, and overall financial stability. It informs discussions around international migration, diaspora engagement, and policies that can optimize the developmental impact of remittances.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year, so the most recent figures may not reflect the current economic situation. Additionally, the accuracy of the data depends on the quality of official reporting by the Bolivian government.
Related Trends
Amount Outstanding Due within One Year of International Debt Securities for All Issuers, Residence of Issuer in Bolivia
IDS1YMAORIAIBO
Number of Identified Exporters to the Plurinational State of Bolivia from Minnesota
MNBOLA475SCEN
General Government Gross Debt for Bolivia
BOLGGXWDGGDP
Value of Exports to the Plurinational State of Bolivia from Pennsylvania
PABOLA052SCEN
Boone Indicator in Banking Market for the Plurinational State of Bolivia
DDOI05BOA156NWDB
Value of Exports to the Plurinational State of Bolivia from West Virginia
WVBOLA052SCEN
Citation
U.S. Federal Reserve, Remittance Inflows to GDP for the Plurinational State of Bolivia (DDOI11BOA156NWDB), retrieved from FRED.