17.3.2 Volume of remittances (USD) as a proportion of total GDP

17.3.2 Volume of remittances (USD) as a proportion of total GDP

17.3.2 Volume of remittances (in United States dollars) as a proportion of total GDP

17.3 Mobilize additional financial resources for developing countries from multiple sources

Goal 17. Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development

Amount of remittances as a share in total GDP represents a percentage change in the value of the remittance income in the value of the gross domestic product of the state. Inflows based on remittances include personal transfers (current transfers by resident private individuals and households received from non-residents) and compensation of employees (income of border, seasonal and other short-term workers).

Personal remittances consist of personal transfers and compensation of employees.

Personal transfers include all current transfers, in cash or in kind, made or received by resident households to or from non-resident households.

Personal transfers thus encompass all current transfers between resident and non-resident 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 residents, as well as residents employed by non-resident entities.

The data represent the sum of these two components: personal transfers and compensation of employees.

The indicator is obtained by dividing the amount of remittances (million USD) in the current account of the balance of payments by the country's gross domestic product (million USD) and multiplying by 100. The amounts of remittances and GDP are converted into USD using the average annual exchange rate of the National Bank of Serbia.

%

Republic of Serbia

National Bank of Serbia and Statistical Office of the Republic of Serbia

Annual

The indicator contributes to the mobility of additional financial resources of the country (target 17.3).

C170302

https://unstats.un.org/sdgs/metadata/files/Metadata-17-03-02.pdf