Ethiopia: Remittances
* indicates monthly or quarterly data series
Ethiopia |
Remittances, million USD |
---|---|
Latest value | 591.95 |
Year | 2023 |
Measure | million U.S. dollars |
Data availability | 1977 - 2023 |
Average | 240.50 |
Min - Max | 4.44 - 1,796.38 |
Source | The World Bank |
The latest value from 2023 is 591.95 million U.S. dollars, an increase from 510.2 million U.S. dollars in 2022. In comparison, the world average is 4590.03 million U.S. dollars, based on data from 184 countries. Historically, the average for Ethiopia from 1977 to 2023 is 240.5 million U.S. dollars. The minimum value, 4.44 million U.S. dollars, was reached in 1977 while the maximum of 1796.38 million U.S. dollars was recorded in 2014.
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Remittances are the money sent home by people who work in a foreign country. These are, for example, the money sent to Mexico by Mexican workers in the U.S.
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.
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Terms of trade | 104.64 | 2021 | percent |
Trade openness | 20.59 | 2023 | percent |
Financial openness | -1.242 | 2021 | index points |
Exports, percent of GDP | 6.59 | 2023 | percent |
Exports, billion dollars | 10.79 | 2023 | billion U.S. dollars |
Growth of exports | -0.75 | 2023 | percent |
Imports, percent of GDP | 13.99 | 2023 | percent |
Imports, billion dollars | 22.91 | 2023 | billion U.S. dollars |
Foreign Direct Investment, percent of GDP | 1.99 | 2023 | percent |
Foreign Direct Investment, billion dollars | 3.67 | 2022 | billion U.S. dollars |
Portfolio investment inflows, equities | 0.00 | 2009 | million dollars (current) |
Current account, percent of GDP | -4.00 | 2022 | percent |
Current account, in dollars | -4.79 | 2023 | billion U.S. dollars |
Trade balance, percent of GDP | -7.40 | 2023 | percent |
Trade balance, in dollars | -12.09 | 2023 | billion U.S. dollars |
Reserves | 3.05 | 2020 | billion U.S. dollars |
Remittances, percent of GDP | 0.36 | 2023 | percent |
Remittances | 591.95 | 2023 | million U.S. dollars |
Net errors and omissions | -196.29 | 2023 | million USD |
External debt | 22.67 | 2022 | percent |
Short-term external debt | 1.18 | 2022 | percent |
Short-term debt to reserves | 13.40 | 2020 | percent |
Foreign exchange reserves | 113.50 | Q4/2023 | billion |