In December, $1,003.5 million was received for this purpose.<\/p>\n\n\n\n
The Central Bank of the Dominican Republic (BCRD) reported that during the year 2024, the remittances received reached a figure of 10,756.0 million dollars, representing an increase of 598.8 million dollars, for a variation of 5.9% compared to the previous year, reflecting a result aligned with the institution’s projections.<\/p>\n\n\n\n
In particular, in December, $1,003.5 million was received for this purpose, which means a year-on-year increase of 6.2%.<\/p>\n\n\n\n
“It is essential to highlight the importance of these resources sent by the Dominican diaspora abroad, as they generate a multiplier effect on consumption, investment, and the financing of the most vulnerable sectors of the country,” indicated the BCRD in a press release.<\/p>\n\n\n\n
The BCRD explains that the economic performance of the United States was a determining factor in the behavior of remittances, as 80.3% of the formal flows in December, equivalent to $710.5 million, came from that country.<\/p>\n\n\n\n
On one hand, throughout 2024, the general unemployment rate in the US remained around 4.0%, close to full employment levels for the US.<\/p>\n\n\n\n
Additionally, the Purchasing Managers’ Index (PMI) for non-manufacturing from the Institute for Supply Management (ISM) registered a value of 54.1 in December, two points above the 52.1 observed in November, indicating the expansion of the services sector, where a large part of the Dominican diaspora is employed.<\/p>\n\n\n\n
The BCRD also highlighted the receipt of remittances through formal channels from other countries in December. In this regard, Spain contributed $55.9 million, which represents 6.3% of the total. This country has the second-largest number of Dominican diaspora residents abroad.<\/p>\n\n\n\n
On its part, Italy and Haiti contributed 1.7% and 1.0% of the received flows, respectively. Additionally, other countries such as Switzerland, Canada, and Panama are identified among the sources of remittances.<\/p>\n\n\n\n
Foreign Currency Generating Sectors<\/strong><\/p>\n\n\n\n Following the recent evolution of the external sector, the BCRD estimated that, in addition to the value reached by remittances at the end of 2024, it is expected that:<\/p>\n\n\n\n In December, $1,003.5 million was received for this purpose. The Central Bank of the Dominican Republic (BCRD) reported that during the year 2024, the remittances received reached a figure of 10,756.0 million dollars, representing an increase of 598.8 million dollars,…<\/p>\n","protected":false},"author":9,"featured_media":11093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[149],"tags":[],"class_list":["post-11096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-in-dr"],"acf":[],"yoast_head":"\n\n