In 2017, personal remittances, received (% of GDP) for Lao People’s Democratic Republic was 1 %. Though Lao People’s Democratic Republic personal remittances, received (% of GDP) fluctuated substantially in recent years, it tended to increase through 1998 - 2017 period ending at 1 % in 2017.The description is composed by Yodatai, our digital data assistant. Have a question? Ask Yodatai ›
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.