Total remittance inflows into Jamaica, jumped 5.9 percent in April and 1.2 percent for the four months to April, the second such increase for the year, with April inflows rising to US$288 million from $272 last year.
Inflows for April while up over 2023 is lower than the March intake of US$297.5 million, data released by the country’s central bank show.
Remittance inflows, a major source of foreign exchange for the country, rose by 1.2 percent with total inflows of US$1.085 billion compared with US$1.073 billion to April 2023.
The United States of America continues to be Jamaica’s largest source of remittance flows in April 2024, accounting for 69.7 percent of total flows, down from 70.2 percent in April last year. Other countries which contributed a notable share of remittances for the month were the United Kingdom, with 10.5 percent followed by Canada at 9.1 percent and the Cayman Islands at 6.3 percent, the report from Bank of Jamaica states.