The Central Bank of the Dominican Republic (BCRD) has reported a significant surge in remittances during the first ten months of 2024. The country received a total of US$8.9 billion, representing a 5.8% increase compared to the same period in 2023. The country has surpassed its previous remittance records, with a projected total of over US$10.5 billion for the entire year.
The robust inflow of remittances can be attributed in part to the strong performance of the United States economy, as 82.2% of the total remittances in October 2024 originated from the United States, followed by Spain, Haiti and Italy. The low unemployment rate and expansion of the American service sector, where many Dominicans are employed, have contributed to this trend.
The Central Bank highlights the economic impact of the remittances that play a crucial role in the Dominican economy, boosting...
Continue reading...
Last edited by a moderator:
