Net remittances into Jamaica grew by 7.8 percent for October last year to US$152 million, an increase of US$11 million over the same month of 2012 while gross inflows grew by 4.5 per cent or US$7.4 million to US$171 million. Remittance outflows actually declined for the period.
The rise in total remittance inflows reflected an increase of US$8 million in inflows through Remittance Companies and a decrease of US$0.5 million in inflows of Other Remittances.
Net remittances for January to October 2013 were US$1.5 billion, a growth of US$34 million or 2.3 per cent over 2012. The outturn for the review period reflects an increase in gross remittance inflows and a contraction in outflows.
For the review period, total remittance inflows were US$1.7 billion, an increase of US$14 million or 0.8 per cent. The increase in total remittance inflows reflected an increase of US$13 million in inflows through Other Remittances and an increase of US$0.7 million in inflows via Remittances Companies.
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