Remittance Inflows to GDP for India
DDOI11INA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.12
Year-over-Year Change
-25.23%
Date Range
1/1/1975 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for India' metric measures the proportion of India's GDP derived from inbound remittance payments, which are an important source of external financing.
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
This indicator tracks the value of personal remittances received by India as a percentage of its gross domestic product. Remittances are a significant component of India's economy and can provide insights into the flow of international payments and the financial well-being of its citizens living abroad.
Methodology
The data is compiled by the World Bank using balance of payments statistics reported by national authorities.
Historical Context
Policymakers use this indicator to assess India's reliance on and exposure to remittance flows, which can impact the country's macroeconomic stability and external accounts.
Key Facts
- India is one of the world's largest recipients of remittance inflows.
- Remittances account for over 3% of India's GDP on average.
- Remittance flows provide a steady source of external financing for India.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the value of personal remittances received by India as a percentage of its gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Remittances are a significant component of India's economy and can provide insights into the flow of international payments and the financial well-being of its citizens living abroad.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank using balance of payments statistics reported by national authorities.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to assess India's reliance on and exposure to remittance flows, which can impact the country's macroeconomic stability and external accounts.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness and reporting practices of national authorities.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for India (DDOI11INA156NWDB), retrieved from FRED.