Remittance inflows for Jamaica rose 3.7 percent or US$6.9 million to US$190 million in July this year, over July 2014. For the year to date period total remittance inflows climbed 3.8 percent or US$47.5 million to US$1.28 billion.
After accounting for outflows, net remittances were US$168 million for July, an increase of US$6.9 million or 4.3 percent relative to the corresponding period of 2014. The growth in net remittance inflows reflect an increase in gross remittances while remittance outflows remained unchanged.
Net remittances for 2015 to-date are US$1.154 billion, an increase of US$45 million or 4.1 percent over the corresponding period of 2014. The out-turn for the review period reflected an increase in gross inflows, which was partially offset by a growth in outflows, Bank of Jamaica reported.
The flows for 2015 should exceed the US$2.157 billion the country received in 2014, if the trend continues.
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[…] Remittances inflows for Jamaica slowed in August 2015 with inflows amounting to US$186 million, for an increase of just US$1.7 million over August last year but after accounting for outflows net remittances were US$165 million, an increase of US$1 million or 0.7 percent compared to the corresponding period of 2014. The growth in net remittance inflows reflected an increase in gross remittances, partially offset by an expansion in remittance outflows, the country’s central bank reported. Net remittances for calendar year to August 2015 were US$1.32 billion, representing growth of US$46 million or 3.6 percent versus the similar period of 2014. The outturn for the period reflected an increase in gross inflows, which was partially offset by a growth in outflows with total inflows being US$1.47 billion, representing an increase of US$49 million or 3.5 percent. Remittance inflows for the period were above the corresponding pre-crisis outturn for 2008. The USA contributed US$919 million, the UK accounted for US$214 million, Canada $151 million Cayman US$84 and other countries made up US$100 million of inflows for the period to August this year. […]
[…] exchange from overseas in the area of remittances. For the first eleven months of 2015, total remittance inflows were US$2.015 billion, an increase of US$63 million or 3.2 percent over the similar period in 2014. […]