Remittances still on record-setting trend

Dolores

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The Central Bank reports the flow of remittances from abroad continues this year at the record pace set in 2020. In August 2021, remittances were US$872 million, which is US$102.2 million more than registered in August 2020. The total of remittances in 2020 was already 38.8% more than the US$628.4 million recorded for the pre-pandemic August 2019.



From January to August 2021, remittances are US$7.03 billion. The number is US$1.96 billion more than in the same period of 2020, for a 38.6% increase.



The Central Bank attributes the increase in remittances to the improvement of the economy in the United States. An estimated 2 million Dominicans live in the United States and keep close ties to their family in the Dominican Republic.



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