Remittance inflows to Jamaica for the year to September 2025 climbed 2.9 percent to US$2.5866 billion, over the US$2.514 billion collected in the similar period in 2024.
This year’s inflows are the second best on record, just $19 million below the record of US$2.695 billion garnered in the first nine months of 2021. The trend for the year to date suggests that total flows for the year may end around US$40 less than the record US$3.497 billion in 2021. Inflows could increase above the levels for 2025 to date following the passage of Hurricane Melissa, as Jamaicans overseas increase their contributions to Jamaicans hit by the hurricane.
Inflows for September this year rose by 4.7 per cent or US$13 million to US$287.6 million compared with $274.6 million for the same period in 2024.
For the eight months ending August 2025, total remittance inflows to Jamaica amount to US$2.302 billion, an increase of 2.8 percent compared to inflows for January to August last year of US$2.239 billion. The total inflows for this year are marginally ahead of the record haul of 2021, with US$2.3 billion in inflows up to August 2021.
Aside from the record take for 2021, the year-to-date inflows exceed all previous years’ figures. Gross inflows for July 2025 dropped by US$21 million compared with July 2021. For the seven months to July this year, inflows are down US$17 million from the 2021 seven-month period. To exceed the record 2021 intake of US$3.497 billion, it will require growth of just under 5 percent for the last 5 months of this year. Regardless, the 2025 numbers appear on track to at least come close to the record haul in 2021 to be either the best year or the second-best.
Inflows in June this year increased by US$8 million to US$286.5 million, or 2.9 percent compared to US$278.3 million in June 2024.
The market closed with an exchange of 1,082,403 shares for US$81,699, increasing from just 197,037 stocks at US$22,508 on Thursday.
For the five months to May 2025, remittance inflows amount to US$1.422 billion, up 3.6 percent over the first five months of last year, with total inflows of $1.373 billion.
Traffic passing through Montego Bay moved from 443,400 last year in July to 510,600, resulting in the year to date performance slipping just 2.2 percent to 3.114 million, from 3.186 million last year. The improvement comes against the backdrop of signs of stability in the June numbers that fell a mere 1.9 percent, 1.6 percent in May and 1.3 percent in April, compared with a year to date decline of 5.1 percent in June, 6.5 percent to April and 8.1 percent to March.
This development, if sustained, has far-reaching implications for a wide range of the economy. Apart from indicating a pick-up in foreign exchange inflows, companies supplying goods and services to the tourism sector should see an increase in business activities.
with an increased 2.3 percent or US$6.7 to US$259 million in February, up from US$254 million last year, a continuation from January that enjoyed an increase of 3.9 percent, data out of Bank of Jamaica show.
Remittance inflows to Jamaica hit a record for January, with total inflows of US$255.5 million this year following an increase of US$9.5 million or 3.9 percent in total of US$246 million in 2024