This economic indicator reflects the financial flows from individuals to their families or communities across borders, encapsulating two main components: personal transfers and employee compensation. Personal transfers include
monetary gifts and in-kind support sent from residents to non-residents, highlighting the interconnectedness of global households. Meanwhile, compensation encompasses earnings from temporary or seasonal work by non-resident employees, showcasing the labor mobility prevalent in a globalized economy. By capturing these financial movements, the metric not only reveals the economic vitality and needs of households but also underscores the role of migration and diaspora networks in facilitating economic stability and growth. Presented in current U.S. dollars, this data offers invaluable insights into trends in international economic relationships and social welfare.
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