Metadata Sub-indicator  17.3.2.1. Volumen de remesas en proporción al PIB total

• Global

Personal transfers are made up of workers' remittances and other transfers between households, the fundamental component being so-called workers' remittances. Payments for workers' remittances are estimated using data declared by payment institutions (remittances) to BE under Circular 3/2009 and Law 10/2010 of 28 April on the prevention of money laundering and the financing of terrorism. These transfers made through senders are raised to cover those made by other channels (informal, bank transfers, in kind, etc.). Payments for remuneration of employees are calculated by estimating the number of non-resident workers posted and applying average remuneration, taking into account information on the country of destination and the branch of activity.The number of workers is obtained from different sources depending on the country of origin, due to the different authorizations or administrative procedures required.In the case of countries of the EU or European Free Trade Association (EFTA), for which no authorization is required, the number of workers obtained from different sources of entry of travellers is used by means of business.In the case of non-EU countries or EFTA, for which there is a supplementation of personal income in Spain.