This table provides metadata for the actual indicator available from Moldovan statistics closest to the corresponding global SDG indicator. Please note that even when the global SDG indicator is fully available, this table should be consulted for information on national methodology and other Moldovan-specific metadata information.
| Indicator |
Indicator 17.3.2: Volume of personal remittances as a proportion of GDP (recalculated in US dollars) |
|---|---|
| Definition and concepts |
Personal remittances represent the sum of three elements = personal transfers + net remuneration of non-resident employees (without taxes and fees, social contributions, transport expenses and expenses for staying in the host country) + Transfers of capital between households, recommended by international methodological standards of the IMF “Balance of Payments and International Investment Position Manual”, VI edition (2009)” and „International Transactions in Remittances – guide for compilers and users” (2009). Personal remittances in the balance of payments. There is no separate item or group of items in the balance of payments, the amount of which would represent personal remittances of individuals. As this indicator is of high interest for the Republic of Moldova, NBM developed an algorithm to estimate it. The indicator of personal remittances is calculated additionally to BP and is presented separately for information purposes. To estimate the financial resources sent into the country through other ways, than those of licenced banks or post offices, they analyse the evolution of resident individuals' deposits, the evolution of the cash in foreign currency held by licenced banks, turnovers of the foreign exchange offices, as well as the evolution of real estate market and cars' market. They also take into account the predisposition to saving the money by the persons receiving remittances from abroad, as well as the evolution of these households' consumption. [see here](https://bnm.md/en/content/international-accounts-methodological-standards-and-data-sources). Based on the data of the International Transactions Reporting System (ITRS), they determine the estimated value thresholds for distribution of money transfers made by individuals from abroad in favour of those from the Republic of Moldova by type of transactions in: remuneration of resident employees; current transfers of individuals; transfers of capital among households. |
| Unit of measure |
Percent, % |
| Method of computation |
Inflow of personal remittances (in USD) as a proportion of the Gross Domestic Product (GDP) recalculated in USD * 100. |
| Comparability with global indicator |
To calculate the global indicator, NBM implements IMF recommendations (BPM 6), who uses the sum of 3 components with recalculations, while WB has a partial indicator with 2 components. |
| Periodicity |
Annual |
| Data last updated | Aug 01, 2024 |
| Metadata last updated | Aug 01, 2024 |