Remittance Inflows to GDP for Georgia
DDOI11GEA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.32
Year-over-Year Change
59.98%
Date Range
1/1/1997 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for Georgia' metric measures the ratio of personal remittances received as a percentage of the country's gross domestic product. This provides insight into the economic significance of remittances for Georgia's 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
Remittances, or money transfers from workers living abroad to their home countries, are an important source of income for many developing economies. This metric helps quantify the reliance of Georgia's economy on these cross-border personal transfers.
Methodology
This data is collected and reported by the World Bank based on balance of payments statistics.
Historical Context
Remittance flows are closely tracked by policymakers and analysts to understand Georgia's economic integration and resilience.
Key Facts
- Remittances accounted for over 12% of Georgia's GDP in 2021.
- Georgia ranks among the top recipients of remittances globally as a share of GDP.
- Remittance inflows help support household consumption and reduce poverty in Georgia.
FAQs
Q: What does this economic trend measure?
A: This metric measures the value of personal remittances received by Georgia as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: Remittance flows are an important indicator of Georgia's economic integration and reliance on cross-border money transfers from its citizens working abroad.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor remittance inflows to Georgia to understand the country's economic resilience and reliance on these cross-border personal transfers.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture all informal remittance channels.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Georgia (DDOI11GEA156NWDB), retrieved from FRED.