Net remittances for August this year increased by US$7.6 million or 5.2 percent to US$155.5 million relative to August 2012. The growth reflected an increase in gross remittance inflows as outflows remained flat at US$22.3 million.
Gross remittance inflows for the month were US$178 million, an increase of US$7.6 million or 4.5 percent versus the same month last year. Inflows were above the average of US$164 million for the previous five corresponding periods. The rise in total remittance inflows reflected an increase of US$8.3 million in inflows through Remittance Companies and a decrease of US$0.7 million from other inflows.
Image courtesy of Marcus/FreeDigitalPhotos.net
Net remittances for January to August 2013 were US$1.2 billion, which represented a growth of US$18.8 million or 1.6 percent relative to 2012. The out-turn for the 8 months period reflects an increase in gross remittance inflows and a contraction outflows.
For the year to August, total remittance inflows were US$1.37 billion, an increase of US$2.8 million and was were marginally above the corresponding pre-crisis (2008) out-turn.
The increase in total remittance inflows reflected a US$10.0 million or 5.1 percent growth in inflows through Other Remittances, which was partly offset by a US$7.3 million or 0.6 percent reduction in flows through the Remittances Companies.
Image courtesy of Marcus/FreeDigitalPhotos.net
[…] posts | Remittances keeps growing | Remittances up, but […]