Metadata Sub-indicator 17.13.1.10. Volumen de remesas en proporción al PIB total

Goal

Goal 17. Strengthen the means of implementation and revitalize the global partnership for sustainable development

Target

Target 17.13. Enhance global macroeconomic stability, including through policy coordination and policy coherence

Indicator

Indicator 17.13.1. Macroeconomic Dashboard

Sub-indicator

Sub-indicator 17.13.1.10. Personal transfers in relation to GDP

Type of indicator (global, European, national)
  • Global
Definition

Personal transfers include personal transfers and the remuneration of employees. Personal transfers are current transfers between resident households and non-resident households, whether in cash or in kind. The remuneration of employees is the income received by frontier, seasonal or other workers who are employed by an economy other than that of their residence, and those employed by non-resident entities. It is divided into GDP.

Calculation method

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.

Unit of measure

Percentage of GDP

Periodicity

Annual

Disaggregated data(Gender, age, region in Spain, other)

Tier

Tier I

Come from National Statistics Plan (YES/NO)

Yes

Statistical operation

Balanza de Pagos, Comercio Internacional de Servicios e Inversiones Extranjeras Directas, Posición de Inversión Internacional, Deuda Externa y Reservas Internacionales y Liquidez en Moneda Extranjera (ISO code: 37142)

Responsible institution
Date of the last metadata update

15/12/2021

Link to United Nations metadata
Custody agency

World Bank

Observations