Korea - Personal remittances, received (% of GDP)

Personal remittances, received (% of GDP) in Korea was 0.45 as of 2020. Its highest value over the past 44 years was 1.49 in 1986, while its lowest value was 0.15 in 1979.

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
1976 0.16
1977 0.27
1978 0.20
1979 0.15
1980 0.86
1981 0.95
1982 1.00
1983 1.05
1984 0.97
1985 1.14
1986 1.49
1987 1.40
1988 1.25
1989 0.89
1990 0.85
1991 0.81
1992 0.82
1993 0.74
1994 0.67
1995 0.58
1996 0.55
1997 0.68
1998 1.29
1999 0.87
2000 0.79
2001 0.82
2002 0.82
2003 0.84
2004 0.75
2005 0.56
2006 0.46
2007 0.44
2008 0.67
2009 0.64
2010 0.51
2011 0.53
2012 0.52
2013 0.47
2014 0.44
2015 0.44
2016 0.43
2017 0.40
2018 0.41
2019 0.43
2020 0.45

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Balance of payments