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Remittances from the US and Spain increase

According to the Central Bank, remittances sent from overseas have increased by 11.8% in the first seven months of the year, compared with the same period last year, at US$3.43 billion.

There were 13.42 million transactions, and the amount of remittances from the United States has grown from US$66.45 for each US$100 that arrived in 2010 up to US$72.57 for each US$100 this year.

The Central Bank has said that the growth in remittances from the United States corresponds with increases in employment in the US as well as a strengthening economy. Spain is the second country from where remittances are received with US$14.69 for each US$100 that arrives in the country followed by Italy, Haiti and Switzerland with much lower amounts, barely 4% of the total received in the country.

Residents in the National District received more than a third of the remittances, or US$1.08 billion, which is a considerable change from the picture seven years ago when it scarcely received 9% of the total.

The provinces of Duarte, La Vega and Peravia follow in receipt of most of the nation’s remittances.

Source: DR1, DiarioLibre

Sep 26, 2017

Category: DR News |

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Last updated November 19, 2017 at 11:32 PM
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