India: Remittances, percent of GDP

* indicates monthly or quarterly data series
 India

Remittances as percent of GDP

 Latest value 3.52
 Year 2023
 Measure percent
 Data availability 1975 - 2023
 Average 2.20
 Min - Max 0.44 - 4.17
 Source The World Bank
The latest value from 2023 is 3.52 percent, an increase from 3.32 percent in 2022. In comparison, the world average is 5.13 percent, based on data from 174 countries. Historically, the average for India from 1975 to 2023 is 2.2 percent. The minimum value, 0.44 percent, was reached in 1975 while the maximum of 4.17 percent was recorded in 2008. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
India - Remittances, percent of GDP - Recent values chart

Historical series
India - Remittances, percent of GDP - historical chart - 1975-2023




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.

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 Related indicators Latest Reference Measure
 Terms of trade 90.74 2021 percent
 Trade openness 45.85 2023 percent
 Financial openness -1.242 2021 index points
 Exports, percent of GDP 21.89 2023 percent
 Exports, billion dollars 777.14 2023 billion U.S. dollars
 Growth of exports 1.52 2023 percent
 Imports, percent of GDP 23.96 2023 percent
 Imports, billion dollars 850.64 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 0.79 2023 percent
 Foreign Direct Investment, billion dollars 49.94 2022 billion U.S. dollars
 Portfolio investment inflows, equities 21,427.09 2023 million dollars (current)
 Current account, percent of GDP -1.20 2023 percent
 Current account, in dollars -32.34 2023 billion U.S. dollars
 Trade balance, percent of GDP -2.07 2023 percent
 Trade balance, in dollars -86.26 2023 billion U.S. dollars
 Reserves 627.79 2023 billion U.S. dollars
 Remittances, percent of GDP 3.52 2023 percent
 Remittances 125,000.00 2023 million U.S. dollars
 Net errors and omissions -315.99 2023 million USD
 External debt 18.42 2022 percent
 Short-term external debt 20.94 2022 percent
 Short-term debt to reserves 22.77 2022 percent
 Foreign exchange reserves 59,001.38 9/2024 billion
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