Remittance Inflows to GDP for Thailand
DDOI11THA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.65
Year-over-Year Change
153.63%
Date Range
1/1/1975 - 1/1/2020
Summary
The 'Remittance Inflows to GDP for Thailand' series measures the total value of personal remittances received by Thailand as a percentage of its gross domestic product (GDP). This provides insight into the economic importance of remittances from Thai workers overseas.
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
Remittances, or money transfers from workers in foreign countries back to their home countries, play a significant role in many developing economies. This metric helps quantify the scale and economic significance of these cross-border flows for Thailand.
Methodology
The data is collected and reported by the World Bank based on official government and central bank sources.
Historical Context
Remittance flows are a key consideration for policymakers focused on Thailand's external accounts and balance of payments.
Key Facts
- Remittances make up over 1% of Thailand's GDP.
- Thailand received over $6 billion in personal remittances in 2021.
- Remittance inflows have grown steadily in Thailand over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of personal remittances received by Thailand as a percentage of its gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: Remittance flows are an important component of Thailand's balance of payments and provide insight into the economic significance of money transfers from Thai workers overseas.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on official government and central bank sources.
Q: How is this trend used in economic policy?
A: Remittance inflows are a key consideration for policymakers focused on Thailand's external accounts and balance of payments.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be fully up-to-date.
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Citation
U.S. Federal Reserve, Remittance Inflows to GDP for Thailand (DDOI11THA156NWDB), retrieved from FRED.