Source Countries' Economy

Definition

The source countries' economy refers to the overall economic condition and development level of the nation from which remittances are being sent. It encompasses various factors such as GDP, employment rates, infrastructure, and social welfare programs.

Related terms

Economic development: The process by which a nation improves its economic well-being through industrialization, infrastructure growth, technological advancements, etc.

Trade deficit: Occurs when a country imports more goods than it exports, resulting in negative balance in foreign trade.

Financial inclusion: A state where individuals and businesses have access to useful financial services at affordable costs.