Barbados - Workers' remittances and compensation of employees

Personal remittances, paid (current US$)

The value for Personal remittances, paid (current US$) in Barbados was $51,599,740 as of 2016. As the graph below shows, over the past 46 years this indicator reached a maximum value of $63,896,780 in 2013 and a minimum value of $100,000 in 1976.

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. Data are in current U.S. dollars.

Source: World Bank staff estimates based on IMF balance of payments data.

See also:

Year Value
1970 $550,000
1971 $354,453
1972 $416,389
1973 $816,651
1974 $438,334
1975 $396,262
1976 $100,000
1977 $650,000
1978 $650,000
1979 $750,000
1980 $700,000
1981 $800,000
1982 $550,000
1983 $500,000
1984 $850,000
1985 $750,000
1986 $800,000
1987 $4,500,000
1988 $3,650,000
1989 $7,000,000
1990 $6,250,000
1991 $7,700,000
1992 $8,800,000
1993 $9,550,000
1994 $11,250,000
1995 $15,450,000
1996 $20,350,000
1997 $16,250,000
1998 $17,700,000
1999 $18,950,000
2000 $19,150,000
2001 $20,300,000
2002 $20,134,500
2003 $21,713,000
2004 $18,250,000
2005 $40,794,150
2006 $35,778,090
2007 $55,286,710
2008 $39,018,970
2009 $37,170,020
2010 $35,029,240
2011 $56,726,260
2012 $52,694,940
2013 $63,896,780
2014 $62,510,670
2015 $54,531,590
2016 $51,599,740

Personal remittances, received (current US$)

The value for Personal remittances, received (current US$) in Barbados was $108,317,200 as of 2020. As the graph below shows, over the past 50 years this indicator reached a maximum value of $198,038,300 in 2015 and a minimum value of $4,400,000 in 1970.

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. Data are in current U.S. dollars.

Source: World Bank staff estimates based on IMF balance of payments data.

See also:

Year Value
1970 $4,400,000
1971 $4,607,884
1972 $5,100,765
1973 $6,380,089
1974 $8,133,523
1975 $9,213,090
1976 $9,650,000
1977 $10,000,000
1978 $11,700,000
1979 $14,200,000
1980 $9,100,000
1981 $11,050,000
1982 $9,050,000
1983 $8,450,000
1984 $10,400,000
1985 $8,150,000
1986 $10,800,000
1987 $28,200,000
1988 $31,950,000
1989 $32,000,000
1990 $37,900,000
1991 $45,150,000
1992 $54,500,000
1993 $55,350,000
1994 $57,200,000
1995 $60,900,000
1996 $68,000,000
1997 $77,000,000
1998 $86,750,000
1999 $98,700,000
2000 $113,200,000
2001 $129,950,000
2002 $125,061,000
2003 $130,500,000
2004 $130,508,600
2005 $94,455,420
2006 $87,348,420
2007 $138,674,200
2008 $101,160,600
2009 $114,476,100
2010 $81,868,800
2011 $147,293,300
2012 $152,319,800
2013 $190,981,600
2014 $188,717,000
2015 $198,038,300
2016 $155,599,400
2017 $108,317,200
2018 $108,317,200
2019 $108,317,200
2020 $108,317,200

Personal remittances, received (% of GDP)

Personal remittances, received (% of GDP) in Barbados was 2.45 as of 2020. Its highest value over the past 46 years was 4.25 in 2001, while its lowest value was 0.58 in 1985.

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
1974 2.61
1975 2.29
1976 2.21
1977 2.02
1978 2.12
1979 2.12
1980 0.90
1981 0.99
1982 0.78
1983 0.68
1984 0.77
1985 0.58
1986 0.70
1987 1.65
1988 1.76
1989 1.60
1990 1.88
1991 2.23
1992 2.78
1993 2.68
1994 2.66
1995 2.75
1996 2.88
1997 3.08
1998 3.08
1999 3.34
2000 3.70
2001 4.25
2002 4.03
2003 4.07
2004 3.79
2005 2.47
2006 2.07
2007 2.97
2008 2.11
2009 2.56
2010 1.81
2011 3.16
2012 3.30
2013 4.08
2014 4.02
2015 4.20
2016 3.22
2017 2.18
2018 2.13
2019 2.08
2020 2.45

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Balance of payments