Over the past 10 years, Dominicans living abroad have sent home a total of US$14.6 billion in remittances, equal to 8% of the GDP. A Central Bank communique said that this was the country?s second largest source of hard currency, after tourism. Statistics by the IDB place the Dominican Republic in fifth place in Latin America as recipients of remittances, behind Mexico, Brazil, Colombia and El Salvador. In 2003, US$2.03 billion entered the country, some 5.1% more than in 2002. A full 30% of the remittances arrive in dollars, costing between 3% and 5% more than money sent in local currency.