South Korea: Remittances, percent of GDP
(measure: percent; Source: The World Bank)
* indicates monthly or quarterly data series
South Korea: Remittances as percent of GDP: For that indicator, The World Bank provides data for South Korea from 1976 to 2017. The average value for South Korea during that period was 0.73 percent with a minumum of 0.15 percent in 1979 and a maximum of 1.5 percent in 1986. See the global rankings for that indicator or use the country comparator to compare trends over time.
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.