Workers' remittances and compensation of employees; received (% of GDP) in Russia

The Workers' remittances and compensation of employees; received (% of GDP) in Russia was last reported at 0.36 in 2010, according to a World Bank report released in 2011. The Workers' remittances and compensation of employees; received (% of GDP) in Russia was 0.44 in 2009, according to a World Bank report, published in 2010. The Workers' remittances and compensation of employees; received (% of GDP) in Russia was reported at 0.36 in 2008, according to the World Bank. Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.This page includes a historical data chart, news and forecasts for Workers' remittances and compensation of employees; received (% of GDP) in Russia. The Russian economy is commodity-driven. Payments from the fuel and energy sector in the form of customs duties and taxes accounted for nearly half of the federal budget's revenues. However, during the past decade, poverty and unemployment declined steadily and the middle class continued to expand.

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