Remittance Inflows to GDP for Gabon
DDOI11GAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.12
Year-over-Year Change
-12.71%
Date Range
1/1/1978 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for Gabon' metric measures the flow of money sent by Gabonese citizens living abroad back to their home country as a percentage of Gabon's gross domestic product. This economic indicator provides insight into Gabon's reliance on foreign remittances.
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 are an important economic factor for many developing countries, representing money sent home by citizens working abroad. This metric for Gabon specifically tracks the size of these remittance flows relative to the overall size of Gabon's economy, as measured by GDP.
Methodology
The data is collected and calculated by the World Bank based on balance of payments statistics.
Historical Context
Remittance data is used by policymakers and economists to assess a country's economic resilience and reliance on foreign income sources.
Key Facts
- Gabon's remittance inflows averaged 0.23% of GDP from 1970 to 2020.
- Remittance inflows peaked at 0.46% of GDP in 1990.
- Remittance inflows have declined since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: The 'Remittance Inflows to GDP for Gabon' metric measures the size of money transfers sent by Gabonese citizens living abroad back to their home country, as a percentage of Gabon's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Gabon's reliance on foreign remittances, which can be an important source of income for developing economies. Analysts use this data to assess economic resilience and the role of external factors in Gabon's growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on balance of payments statistics.
Q: How is this trend used in economic policy?
A: Remittance data is used by policymakers and economists to evaluate a country's economic resilience and dependence on foreign income sources, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the typical publication delays and statistical limitations of international economic indicators compiled by organizations like the World Bank.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Gabon (DDOI11GAA156NWDB), retrieved from FRED.