Remittance inflows to Jamaica recover

Total remittance inflows into Jamaica, a major source of foreign exchange earnings for the country, rose 1.3 percent to US$254 million for February 2024, up from $250 million in February 2023, reversing months of decline since May 2023, data released by the country’s central bank show.
The moderately improved inflows pushed the year to date performance above 2023 with a marginal increase to $499.6 million from $499 million.
For February, the United States of America accounted for the bulk of the inflows at 69.6 percent, down from 71.7 percent in January. The UK followed with 10.8 percent, Canada with 8.5 percent and Cayman Island with 6.8 percent.