Faroe Islands FO: BOP: Current Account: Personal Remittances: Received: % of GDP

Faroe Islands FO: BOP: Current Account: Personal Remittances: Received: % of GDP data was reported at 6.396 % in 2015. This records an increase from the previous number of 5.636 % for 2014. Faroe Islands FO: BOP: Current Account: Personal Remittances: Received: % of GDP data is updated yearly, averaging 4.715 % from Dec 1998 to 2015, with 18 observations. The data reached an all-time high of 6.722 % in 2012 and a record low of 2.923 % in 2004. Faroe Islands FO: BOP: Current Account: Personal Remittances: Received: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Faroe Islands – Table FO.World Bank: Balance of Payments: Current Account. 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.; ; World Bank staff estimates based on IMF balance of payments data, and World Bank and OECD GDP estimates.; Weighted Average; Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).

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