Latvia - Workers' remittances and compensation of employees

Personal remittances, paid (current US$)

The value for Personal remittances, paid (current US$) in Latvia was $494,117,100 as of 2018. As the graph below shows, over the past 26 years this indicator reached a maximum value of $913,374,500 in 2008 and a minimum value of $224,030 in 1992.

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
1992 $224,030
1993 $354,000
1994 $2,088,000
1995 $1,238,000
1996 $2,168,000
1997 $4,600,000
1998 $7,700,000
1999 $7,600,000
2000 $131,511,800
2001 $142,380,800
2002 $3,774,807
2003 $4,520,450
2004 $8,690,378
2005 $17,352,140
2006 $25,141,180
2007 $41,198,240
2008 $913,374,500
2009 $672,834,100
2010 $442,998,000
2011 $559,209,400
2012 $569,178,100
2013 $607,521,500
2014 $569,875,000
2015 $494,501,700
2016 $415,535,300
2017 $444,319,300
2018 $494,117,100

Personal remittances, received (current US$)

The value for Personal remittances, received (current US$) in Latvia was $1,228,270,000 as of 2018. As the graph below shows, over the past 22 years this indicator reached a maximum value of $1,920,348,000 in 2008 and a minimum value of $40,771,000 in 1996.

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
1996 $40,771,000
1997 $45,709,000
1998 $49,400,000
1999 $48,600,000
2000 $252,176,000
2001 $273,611,400
2002 $112,446,200
2003 $157,376,800
2004 $218,359,400
2005 $379,187,600
2006 $479,940,200
2007 $550,578,600
2008 $1,920,348,000
2009 $1,585,326,000
2010 $1,257,656,000
2011 $1,504,753,000
2012 $1,499,129,000
2013 $1,604,501,000
2014 $1,543,049,000
2015 $1,326,551,000
2016 $1,226,058,000
2017 $1,265,119,000
2018 $1,228,270,000

Personal remittances, received (% of GDP)

Personal remittances, received (% of GDP) in Latvia was 3.57 as of 2018. Its highest value over the past 22 years was 6.04 in 2009, while its lowest value was 0.65 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
1996 0.68
1997 0.70
1998 0.69
1999 0.65
2000 3.18
2001 3.28
2002 1.18
2003 1.34
2004 1.52
2005 2.24
2006 2.24
2007 1.78
2008 5.39
2009 6.04
2010 5.29
2011 5.33
2012 5.32
2013 5.30
2014 4.92
2015 4.90
2016 4.42
2017 4.19
2018 3.57

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Balance of payments