Net secondary income (Net current transfers from abroad) (constant LCU)

This economic indicator reflects the net flow of unrequited income transfers between residents of a country and external entities, emphasizing transactions that do not require repayment obligations. It captures the balance between funds received by residents from nonresidents and funds sent abroad by residents to nonresidents, highlighting the dynamics of financial support, remittances, and other forms of income assistance that transcend national borders. The data are presented in constant local currency, allowing for a more accurate comparison over time by eliminating the effects of inflation. Understanding this indicator is crucial for policymakers and economists as it sheds light on a nation's economic well-being, dependency on foreign income, and social safety nets provided through international assistance. Source: