Remittance Inflows to GDP for Fiji
DDOI11FJA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.77
Year-over-Year Change
86.62%
Date Range
1/1/1979 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for Fiji' series measures the size of personal remittances received by Fiji as a percentage of its gross domestic product (GDP). This trend is an important indicator of Fiji's reliance on foreign transfers and the role of migrant workers in its 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 refer to the personal transfers and compensation of employees received from Fijian workers living abroad. This metric provides insight into Fiji's reliance on foreign income sources and the economic impact of migration patterns.
Methodology
The data is collected and reported by the World Bank using national accounts and balance of payments statistics.
Historical Context
Remittance inflows are relevant for policymakers assessing Fiji's economic resilience and dependence on external factors.
Key Facts
- Fiji's remittance inflows as a percentage of GDP peaked at 6.1% in 2020.
- Remittances make up a significant portion of Fiji's national income and foreign exchange earnings.
- Fiji is among the top recipients of remittances as a share of GDP globally.
FAQs
Q: What does this economic trend measure?
A: The 'Remittance Inflows to GDP for Fiji' series measures the size of personal remittances received by Fiji as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Fiji's reliance on foreign income sources and the economic impact of migration patterns, which is relevant for policymakers assessing the country's economic resilience and dependence on external factors.
Q: How is this data collected or calculated?
A: The data is collected and reported 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 relevant for policymakers assessing Fiji's economic resilience and dependence on external factors.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and methodologies of the World Bank and national statistical agencies.
Related Trends
Balance of Payments: Total Net Current Account for Fiji
FJIBCAGDPBP6PT
Infant Mortality Rate for Fiji
SPDYNIMRTINFJI
Deposit Money Bank Assets to GDP for Fiji
DDDI02FJA156NWDB
Number of Identified Exporters to Fiji from Arizona
AZFJIA475SCEN
Number of Identified Exporters to Fiji from Vermont
VTFJIA475SCEN
Value of Exports to Fiji from Ohio
OHFJIA052SCEN
Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Fiji (DDOI11FJA156NWDB), retrieved from FRED.