Remittance inflows to Jamaica are on track to beat 2023 inflows partially due to an increase of US$6 million or 2.3 percent in total inflows of US$266 million in November last year. November is the second consecutive month of increase and the third in four months.
Remittance inflows for 2024 to November amassed US$3.059 billion, an increase of just 0.1 percent over the similar period in 2023. It seems set to exceed the US$3.3 billion generated in 2023. If achieved, it would be the first year since the massive increase in 2021 that there has been an annual increase.

Prices in Jamaica rose sharply in December, last year by 1.2 percent for the month, up from 1 percent in November, with the yearly inflation coming in at 5 percent, data from the Statistical Institute of Jamaica shows. The annual increase for 2024 is well below the 6.9 for 2023 and firmly within the 4-6 percent target the country’s central bank, Bank of Jamaica is mandated to defend.
The increase in the division’s index was chiefly influenced by a 5.5 percent upward movement in the index for the class ‘Vegetables, tubers, plantains, cooking bananas and pulses’. While higher prices were observed across all classes within the division, the increase was notable for items such as sweet pepper, sweet potato, tomato, cabbage and eggs,” Statin stated.
Passenger traffic traversing Kingston’s Norman Manley international Airport climbed a robust 13.8 percent last December to 177,400 up from 155,900 in December 2023 and grew just by 1.7 percent, from 1,748,100 in 2023 to 1,777,100 in 2024 Tourism Analytics.com reports, quoting data form Grupo Aeroportuario del Pacifico, operators of in Jamaica two major airports.

Reserves climbed by $200 million in September from August to a then record high. Although not stated, it appears that the rise is coming mainly from the proceeds of the bond issue supported by future airport rental income, with the Bank of Jamaica report showing claims on the government sector falling by nearly US$300 million in October, an indication that the rise in the NIR is related to the government.
Remittance inflows to Jamaica climbed or 3.6 percent by US$10.4 million to US$299.6 million from US$289.2 million for the same period in 2023 and represent the third month of the year with an increase.