Iceland - Workers' remittances and compensation of employees
Personal remittances, paid (current US$)
The value for Personal remittances, paid (current US$) in Iceland was $291,037,500 as of 2020. As the graph below shows, over the past 44 years this indicator reached a maximum value of $376,636,300 in 2019 and a minimum value of $300,000 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 |
|---|---|
| 1976 | $300,000 |
| 1977 | $2,000,000 |
| 1978 | $3,900,000 |
| 1979 | $5,100,000 |
| 1980 | $5,500,000 |
| 1981 | $4,600,000 |
| 1982 | $5,300,000 |
| 1983 | $3,800,000 |
| 1984 | $5,600,000 |
| 1985 | $4,800,000 |
| 1986 | $6,700,000 |
| 1987 | $17,300,000 |
| 1988 | $16,500,000 |
| 1989 | $16,800,000 |
| 1990 | $11,713,800 |
| 1991 | $14,966,200 |
| 1992 | $12,560,950 |
| 1993 | $10,409,040 |
| 1994 | $7,365,356 |
| 1995 | $21,252,090 |
| 1996 | $15,572,460 |
| 1997 | $19,909,490 |
| 1998 | $16,108,860 |
| 1999 | $13,955,220 |
| 2000 | $23,393,860 |
| 2001 | $14,302,010 |
| 2002 | $20,677,660 |
| 2003 | $19,339,720 |
| 2004 | $28,360,550 |
| 2005 | $54,426,250 |
| 2006 | $81,592,430 |
| 2007 | $114,802,600 |
| 2008 | $100,763,400 |
| 2009 | $68,067,540 |
| 2010 | $67,193,850 |
| 2011 | $72,738,450 |
| 2012 | $65,983,580 |
| 2013 | $72,581,960 |
| 2014 | $95,087,180 |
| 2015 | $84,516,220 |
| 2016 | $139,958,200 |
| 2017 | $325,296,100 |
| 2018 | $356,216,900 |
| 2019 | $376,636,300 |
| 2020 | $291,037,500 |
Personal remittances, received (current US$)
The value for Personal remittances, received (current US$) in Iceland was $165,481,100 as of 2020. As the graph below shows, over the past 44 years this indicator reached a maximum value of $217,728,300 in 2014 and a minimum value of $1,200,000 in 1982.
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 |
|---|---|
| 1976 | $1,400,000 |
| 1977 | $1,700,000 |
| 1978 | $1,800,000 |
| 1979 | $1,700,000 |
| 1980 | $1,500,000 |
| 1981 | $3,100,000 |
| 1982 | $1,200,000 |
| 1983 | $2,300,000 |
| 1984 | $6,800,000 |
| 1985 | $5,100,000 |
| 1986 | $7,600,000 |
| 1987 | $14,700,000 |
| 1988 | $22,400,000 |
| 1989 | $30,200,000 |
| 1990 | $62,259,350 |
| 1991 | $65,318,410 |
| 1992 | $63,823,410 |
| 1993 | $57,867,330 |
| 1994 | $47,506,660 |
| 1995 | $36,237,520 |
| 1996 | $33,295,460 |
| 1997 | $40,944,770 |
| 1998 | $28,931,170 |
| 1999 | $31,124,490 |
| 2000 | $35,754,210 |
| 2001 | $39,346,090 |
| 2002 | $64,770,700 |
| 2003 | $48,980,940 |
| 2004 | $60,964,370 |
| 2005 | $65,772,990 |
| 2006 | $80,288,820 |
| 2007 | $110,013,700 |
| 2008 | $120,129,200 |
| 2009 | $94,048,510 |
| 2010 | $135,558,500 |
| 2011 | $150,920,500 |
| 2012 | $154,533,800 |
| 2013 | $207,340,800 |
| 2014 | $217,728,300 |
| 2015 | $216,941,600 |
| 2016 | $209,082,100 |
| 2017 | $188,418,000 |
| 2018 | $173,875,400 |
| 2019 | $184,084,300 |
| 2020 | $165,481,100 |
Personal remittances, received (% of GDP)
Personal remittances, received (% of GDP) in Iceland was 0.76 as of 2020. Its highest value over the past 44 years was 1.29 in 2013, while its lowest value was 0.04 in 1982.
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 |
|---|---|
| 1976 | 0.08 |
| 1977 | 0.08 |
| 1978 | 0.07 |
| 1979 | 0.06 |
| 1980 | 0.04 |
| 1981 | 0.09 |
| 1982 | 0.04 |
| 1983 | 0.08 |
| 1984 | 0.24 |
| 1985 | 0.17 |
| 1986 | 0.19 |
| 1987 | 0.27 |
| 1988 | 0.37 |
| 1989 | 0.53 |
| 1990 | 0.96 |
| 1991 | 0.95 |
| 1992 | 0.90 |
| 1993 | 0.93 |
| 1994 | 0.74 |
| 1995 | 0.51 |
| 1996 | 0.45 |
| 1997 | 0.54 |
| 1998 | 0.34 |
| 1999 | 0.35 |
| 2000 | 0.40 |
| 2001 | 0.48 |
| 2002 | 0.70 |
| 2003 | 0.43 |
| 2004 | 0.44 |
| 2005 | 0.39 |
| 2006 | 0.46 |
| 2007 | 0.51 |
| 2008 | 0.66 |
| 2009 | 0.71 |
| 2010 | 0.99 |
| 2011 | 0.99 |
| 2012 | 1.05 |
| 2013 | 1.29 |
| 2014 | 1.22 |
| 2015 | 1.24 |
| 2016 | 1.01 |
| 2017 | 0.76 |
| 2018 | 0.66 |
| 2019 | 0.74 |
| 2020 | 0.76 |
Classification
Topic: Economic Policy & Debt Indicators
Sub-Topic: Balance of payments
