Remittance Inflows to GDP for Kyrgyzstan
DDOI11KGA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.14
Year-over-Year Change
30.84%
Date Range
1/1/1993 - 1/1/2020
Summary
This trend measures the ratio of remittance inflows to GDP for Kyrgyzstan, providing insight into the economic reliance on money sent home by citizens working abroad.
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 funds transferred by migrant workers back to their home countries. Tracking this metric as a percentage of GDP offers crucial context on Kyrgyzstan's economic structure and development.
Methodology
The data is collected and calculated by the World Bank using national account and balance of payments information.
Historical Context
Policymakers use this indicator to assess Kyrgyzstan's economic resilience and need for policies supporting domestic job growth.
Key Facts
- Remittances account for over 30% of Kyrgyzstan's GDP.
- Over 1 million Kyrgyz citizens work abroad, primarily in Russia.
- Remittance inflows peaked at $2.5 billion in 2013.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of remittance inflows to GDP for Kyrgyzstan, providing insight into the country's reliance on money sent home by citizens working abroad.
Q: Why is this trend relevant for users or analysts?
A: Tracking remittance inflows as a percentage of GDP offers crucial context on Kyrgyzstan's economic structure and development, which is relevant for policymakers and economists analyzing the country's economic resilience and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national account and balance of payments information.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to assess Kyrgyzstan's economic reliance on remittances and need for policies supporting domestic job growth and economic diversification.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a delay of approximately 1 year.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Kyrgyzstan (DDOI11KGA156NWDB), retrieved from FRED.