Remittance Inflows to GDP for Rwanda
DDOI11RWA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.75
Year-over-Year Change
N/A%
Date Range
1/1/1976 - 1/1/2020
Summary
This economic indicator measures remittance inflows as a percentage of Rwanda's gross domestic product (GDP). Remittances are an important source of external financing for developing economies like Rwanda.
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 to GDP is a key metric for assessing the role of international money transfers in a country's economy. It shows the relative significance of remittances, which are private cross-border payments typically sent by migrant workers to their home countries.
Methodology
The data is calculated by the World Bank using official balance of payments statistics.
Historical Context
Policymakers monitor this trend to understand the macroeconomic impacts of remittances on factors like consumption, investment, and foreign exchange.
Key Facts
- Remittances account for over 10% of Rwanda's GDP.
- Rwanda ranks among the top 20 countries globally by remittance inflows as a share of GDP.
- Remittances provide a stable source of foreign exchange for the Rwandan economy.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the value of personal remittances received in Rwanda as a percentage of the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: Remittance inflows are an important source of external financing for developing economies like Rwanda, with implications for consumption, investment, and foreign exchange.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric using official balance of payments statistics.
Q: How is this trend used in economic policy?
A: Policymakers monitor remittance inflows to GDP to understand the macroeconomic impacts and role of international money transfers in the Rwandan economy.
Q: Are there update delays or limitations?
A: The World Bank publishes this data annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Rwanda (DDOI11RWA156NWDB), retrieved from FRED.