Haiti ranks third in remittances to Dominican Republic

3 days ago 2

ARTICLE AD BOX

Santo Domingo.- Despite having a small Dominican community, Haiti ranked third in remittances sent to the Dominican Republic in October, following the United States and Spain. According to the Central Bank of the Dominican Republic (BCRD), Haiti accounts for 1.4% of all remittances, surpassing countries with larger Dominican populations, such as Italy, Switzerland, Canada, and Panama.

The United States remains the top contributor, responsible for 82.2% of remittances in October, totaling $694.5 million. This influx was bolstered by a strong U.S. job market, with unemployment at 4.1% and 12,000 new jobs created. Additionally, growth in the U.S. services sector, where many Dominicans work, further supported remittance flows.

Spain, with its significant Dominican diaspora, ranked second, contributing $53.3 million (6.3% of total remittances). The BCRD emphasized that remittances from various countries continue to play a critical role in the Dominican economy, with formal channels ensuring a steady inflow.

Source: N Digital

Inline Feedbacks

View all comments

manuel P QUINONES

November 18, 2024 12:25 pm

good job at not giving the dollar amount of such remmitances.

Dave C.

November 18, 2024 1:08 pm

I’m curious to know what employment opportunities there are for Dominicans in Haiti when majority of people in that country are severely struggling on the daily..

Read Entire Article