Total remittance inflows in Jamaica jumped 17.2 per cent or US$44.8 million in September 2021 over the $260 million inflows for September 2020 and lifting the gross inflows for the year to date to US$2.6 billion, just US$300 million less than US$2.9 billion inflows for the 2020 calendar year.
The increase for the month is highly positive, in light of a strong 34.5 percent jump in September 2020 over the 2019 inflows for that month.
The total inflows for last year could be equalled or exceeded with the October numbers and could put the inflows for the year at US$3.6 billion by the end of the year. The numbers for September continues the robust monthly increase since last year May, except for a small decline of 2.4 percent in August this year. For the January to August 2021 period, remittance inflows to Jamaica grew by 25.4 percent to US2.3 billion, up from US$1.836 billion in 2020. Prior to August, inflows grew by 30.4 percent, with June and July being up 10 percent, well below 42 percent increase to May.
The data was obtained from the Bank of jamaica.
