Remittance Inflows to GDP for Mali
DDOI11MLA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.71
Year-over-Year Change
29.80%
Date Range
1/1/1975 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for Mali' metric measures the value of money transfers received by individuals in Mali as a percentage of the country's total economic output.
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 data series provides insights into the importance of remittances, or funds sent home by Malians living abroad, to the Malian economy. Remittance inflows can be a crucial source of income and economic stability for developing countries.
Methodology
The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Historical Context
Remittance flows are closely monitored by policymakers and economists as they can have significant impacts on a country's economic development and financial stability.
Key Facts
- Mali's remittance inflows averaged 5.2% of GDP from 2010-2020.
- Remittances can provide a crucial safety net for families in Mali.
- Remittance flows are an important source of foreign currency for Mali.
FAQs
Q: What does this economic trend measure?
A: This metric measures the value of money transfers received by individuals in Mali as a percentage of the country's total economic output or GDP.
Q: Why is this trend relevant for users or analysts?
A: Remittance inflows are an important indicator of a country's economic development and reliance on foreign sources of income, making this data highly relevant for economists, policymakers, and analysts studying the Malian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor remittance flows as they can have significant impacts on a country's economic development and financial stability, informing policy decisions around economic growth, poverty reduction, and financial regulations.
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 a year or more before the most recent figures are available.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Mali (DDOI11MLA156NWDB), retrieved from FRED.