Economic Policy & Debt · Guyana
Guyana: Personal remittances, received (current US$)
Yearly data from 1982 to 2023, from the World Bank.
Economic Policy & Debt · Guyana
Yearly data from 1982 to 2023, from the World Bank.
Guyana's personal remittances, received (current US$) was US$545.58 million in 2023, the latest year in the World Bank's World Development Indicators. That is up 66.26% from US$328.15 million in 2013 (5.22% a year on average, compounded).
| Value | Year | |
|---|---|---|
| Latest | US$545.58 million | 2023 |
| Five years earlier | US$333.69 million | 2018 |
| Ten years earlier | US$328.15 million | 2013 |
| Highest | US$553.49 million | 2021 |
| Lowest | US$1.02 million | 1992 |
| Average since 2014 | US$407.08 million | 2014–2023 |
| First recorded | US$2.3 million | 1982 |
Over five years it is up 63.5% from US$333.69 million in 2018 (10.33% a year on average, compounded). Since 1982 it is up 23,621% from US$2.3 million in 1982 (14.27% a year on average, compounded). The World Bank has no value for 7 of the years in between; the chart leaves those gaps open rather than joining across them.
In 2023, Guyana's personal remittances, received (current US$) rose 1.2% on 2022 (from US$539.13 million to US$545.58 million).
Across the 30 yearly changes before that (1993 to 2022), the average change was +43.4% and a typical year strayed about 138.8% from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 758.8% in 1996 and the biggest yearly fall was 49.3% in 1983. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 the straight-line trend is upward, about US$31.24 million a year. A straight line explains 83% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
In 2023, Guyana had the 5th highest value of the 11 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Guyana | US$545.58 million | 2023 |
| World | US$925.55 billion | 2025 |
| Latin America & Caribbean | US$170.35 billion | 2025 |
| High income | US$221.9 billion | 2025 |
Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.
Limitations: Remittance transactions have grown in importance over the past decade. In a number of developing economies, receipts of remittances have become an important and stable source of funds that exceeds receipts from exports of goods and services or from financial inflows on foreign direct investment. But the quality of statistical remittance data is not high. Remittances are a challenge to measure because of their nature. They are heterogeneous with numerous small transactions conducted by individuals through a wide variety of channels: formal channels, such as electronic wire, or through informal channels, such as cash or goods carried across borders.
Regional and income-group figures are computed by the World Bank as a sum.
| Year | Personal remittances, received (current US$) |
|---|---|
| 2023 | 545,579,978 |
| 2022 | 539,131,835 |
| 2021 | 553,487,993 |
| 2020 | 441,066,006 |
| 2019 | 380,358,401 |
| 2018 | 333,692,746 |
| 2017 | 322,340,618 |
| 2016 | 322,734,758 |
| 2015 | 302,773,518 |
| 2014 | 329,658,105 |
| 2013 | 328,152,658 |
| 2012 | 469,258,406 |
| 2011 | 412,200,000 |
| 2010 | 367,805,406 |
| 2009 | 262,065,846 |
| 2008 | 273,896,014 |
| 2007 | 278,496,000 |
| 2006 | 218,076,000 |
| 2005 | 201,289,000 |
| 2004 | 153,009,000 |
| 2003 | 99,300,000 |
| 2002 | 51,000,000 |
| 2001 | 22,300,000 |
| 2000 | 27,300,000 |
| 1999 | 20,500,000 |
| 1998 | 14,000,000 |
| 1997 | 15,000,000 |
| 1996 | 14,600,000 |
| 1995 | 1,700,000 |
| 1994 | 1,340,000 |
| 1993 | 1,210,000 |
| 1992 | 1,020,000 |
| 1991 | no data |
| 1990 | no data |
| 1989 | no data |
| 1988 | no data |
| 1987 | no data |
| 1986 | no data |
| 1985 | no data |
| 1984 | 2,609,895 |
| 1983 | 1,166,667 |
| 1982 | 2,300,000 |
Every indicator for Guyana is on the Guyana data page.
World Bank, World Development Indicators, indicator BX.TRF.PWKR.CD.DT, licensed CC BY 4.0. Original source: IMF balance of payments data, International Monetary Fund (IMF); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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