Jamaica continues to benefit from increased remittance flows as the countries that were negatively affected by the down turn in their economies in 2008 continue to mend.
Net remittances for January 2014 were US$138 million, an increase of US$8 million or 6.2 percent relative to the corresponding period of 2013. The growth in net remittance inflows reflect an increase in gross remittance inflows and a contraction in outflows.
Gross remittance inflows amounted to US$158 million, an increase of US$4 million or 2.7 percent compared to January last year. The rise in total remittance inflows emanated from an increase of US$6 million in inflows through Remittance Companies and partly offset by a reduction of US$1.4 million in inflows from Other Remittances.
The January increase follows a record year in which Jamaica topped $2B in remittance inflows.
Related posts | 2013 Remittance inflows top $2B | Remittance inflows continues up
