European Union - Personal remittances, received (% of GDP)

Personal remittances, received (% of GDP) in European Union was 0.763 as of 2020. Its highest value over the past 45 years was 0.781 in 2019, while its lowest value was 0.378 in 1999.

Definition: Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.

Source: World Bank staff estimates based on IMF balance of payments data, and World Bank and OECD GDP estimates.

See also:

Year Value
1975 0.413
1976 0.419
1977 0.488
1978 0.510
1979 0.516
1980 0.537
1981 0.556
1982 0.562
1983 0.527
1984 0.522
1985 0.509
1986 0.477
1987 0.459
1988 0.471
1989 0.485
1990 0.461
1991 0.447
1992 0.426
1993 0.445
1994 0.405
1995 0.384
1996 0.378
1997 0.461
1998 0.459
1999 0.378
2000 0.408
2001 0.427
2002 0.440
2003 0.452
2004 0.471
2005 0.499
2006 0.525
2007 0.548
2008 0.576
2009 0.600
2010 0.614
2011 0.629
2012 0.660
2013 0.723
2014 0.734
2015 0.779
2016 0.766
2017 0.762
2018 0.748
2019 0.781
2020 0.763

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Balance of payments