Large increase in remittances

In January 2018, family members in the Dominican Republic received a total of US$522.4 million in remittances, an increase of 18.5% over January in the previous year. According to data from the Central Bank, this is the largest percentage increase from January one year to the next for the past eight years.

The majority of the remittances, 74.31% of the total, came from the United States. Experts believe that the tightening of the immigration policy and the threat of potential deportations have led expat Dominicans to increase in the amount of money flowing into the country from the US. Expats in Spain sent back 12.81% of remittances.

In January the average per transaction was US$228, but some countries had a higher average such as Switzerland with US$403, Spain with an average of US$383, France with US$360, Germany with US$309 and Italy with US$291.

Read more in Spanish:
https://www.diariolibre.com/economia/envio-de-remesas-sube-18-5-CX9437370

20 March 2018