How much remittances count in five West African economies

Why use a share

Comparing remittances with GDP gives an idea of their size relative to each economy. The chart uses 2023 because all five countries have an observation for that year. Source 1

When the latest years differ

Ghana, Nigeria and The Gambia have later observations in the table. Compare the same year for a regional snapshot. Changes in the ratio can come from remittances, GDP or both. Source 1

Follow the denominator

Suppose transfers stay constant while domestic output grows. The ratio can fall even though households receive the same amount. Start with the same-year share, then check the money received and GDP separately before drawing a conclusion. Source 1

Read the figures at the right scale

The regional snapshot describes national economies. It cannot show how widely remittances are shared across households, how much a transfer costs or which corridors supply most of the money. Source 1

Sources

• World Bank World Development Indicators · BX.TRF.PWKR.DT.GD.ZS
• World Bank API extract