Remittance Inflows to GDP for Lao People's Democratic Republic
DDOI11LAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.22
Year-over-Year Change
274.78%
Date Range
1/1/1984 - 1/1/2020
Summary
This economic trend measures the ratio of remittance inflows to GDP for Lao People's Democratic Republic. It provides insight into the importance of international money transfers to the Lao 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 refer to the money transfers made by Lao emigrants working abroad back to their home country. This metric expresses those inflows as a percentage of Lao GDP, indicating the scale and significance of remittances for the national economy.
Methodology
The data is collected and calculated by the World Bank based on central bank and household survey information.
Historical Context
Remittance inflows are a key factor considered by policymakers and economists when assessing Lao economic health and development.
Key Facts
- Remittances account for over 5% of Lao GDP.
- Lao emigrants primarily work in Thailand and China.
- Remittance inflows have grown significantly since the 1990s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of remittance inflows to GDP for Lao People's Democratic Republic. It reflects the importance of money transfers from Lao emigrants working abroad to the national economy.
Q: Why is this trend relevant for users or analysts?
A: Remittance inflows are a key factor for understanding Lao economic health and development, as they represent a significant source of income and foreign exchange for the country.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on central bank and household survey information.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the Lao economy and make informed decisions about economic policies and development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a slight delay, and may be subject to revisions based on updated information.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Lao People's Democratic Republic (DDOI11LAA156NWDB), retrieved from FRED.