Remittances to the Caribbean region increased by 3% in 2013, according to a new report from the Inter-American Development Bank’s Multilateral Investment Fund.
Remittances to the region totaled US$8.519 billion, a 3% improvement in US dollar terms, an 8.9% increase in local currency and a 3.3% improvement in local currency and adjusted for inflation.
The Dominican Republic received US$3.333 billion in 2013, a 5.5% improvement, and the largest increase in the area. They were followed by Jamaica, which received US$2.065 billion and Haiti, which received US$2.017 billion.
Trinidad and Tobago was next with US$131 million in remittances.
The Latin America and Caribbean region received a total of US$61.251 billion last year, with the United States the source of about 75% of remittances to the region.
www.caribjournal.com/2014/06/10/remittances-to-caribbean-increased-by-3-percent-in-2013-report/