Remittance Inflows to GDP for Hungary
DDOI11HUA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.44
Year-over-Year Change
194.13%
Date Range
1/1/1995 - 1/1/2020
Summary
This trend measures the value of remittance inflows to Hungary as a percentage of its GDP, providing insight into the importance of international money transfers to the national 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 Hungarians working abroad back to their home country. This metric helps economists and policymakers assess the reliance of the Hungarian economy on these cross-border payments.
Methodology
The data is collected and calculated by the World Bank using official government statistics.
Historical Context
Remittance inflows are a key indicator for policymakers overseeing migration, labor, and financial trends.
Key Facts
- Remittance inflows accounted for 3.2% of Hungary's GDP in 2021.
- Remittance payments are a major source of foreign currency for the Hungarian economy.
- Hungary ranks 42nd globally in terms of remittance inflows as a percentage of GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of remittance inflows to Hungary, which are funds sent by Hungarians working abroad back to their home country, as a percentage of Hungary's GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric helps economists and policymakers assess the reliance of the Hungarian economy on these cross-border payments and the importance of international money transfers to the national economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official government statistics.
Q: How is this trend used in economic policy?
A: Remittance inflows are a key indicator for policymakers overseeing migration, labor, and financial trends in Hungary.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to 1 year in the most recent figures.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Hungary (DDOI11HUA156NWDB), retrieved from FRED.