Jamaica remittances on track for record

October 16, 2025 by
Remittance inflows to Jamaica rose 4.6 percent in July this year over the 2024 period to US$302.2 million, taking the total for the seven months this year to US$2.01 billion, 3.6 percent more than the take in 2024, for the same period but below the record year of 2021 when inflows for the first 7 months were $2,028 billion, data from Bank of Jamaica reveal.

Aside from the record take for 2021, the year-to-date inflows exceed all previous years’ figures. Gross inflows for July 2025 dropped by US$21 million compared with July 2021. For the seven months to July this year, inflows are down US$17 million from the 2021 seven-month period. To exceed the record 2021 intake of US$3.497 billion, it will require growth of just under 5 percent for the last 5 months of this year. Regardless, the 2025 numbers appear on track to at least come close to the record haul in 2021 to be either the best year or the second-best.

are on track for a record haul this year, following declines between 2022 and 2023, with inflows increasing by 3.5 percent to US$1.708 billion as US$57 million more came into the country over the January to June 2024 period.

Inflows in June continue to rise for the year compared with 2024, increasing by US$7.2 million, with a 2.8 percent increase to US$267.5 million in comparison to June 2024.

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Remittances slip in August

October 8, 2021 by

Remittance inflows into Jamaica slipped by 2.4 per cent or US$7 million to US$273 million from US$280 in August last year that benefited from a robust increase in 2020 and brings the year to date to US$2.3 billion or 25.4 percent over US$1.84 billion accounted for in the similar period in 2020.
Last year August saw a hefty 31 percent surge from US$214 million earned in 2019. At the rate of growth to date, remittance inflows should hit US$2.3 billion this year.
The decline for August is the first monthly decline on a year over year basis since April last year, with a fall of 20 percent. Remittances that surged 42 percent and 37 percent in June and July in 2020 over 2019 is up 10 percent this year in each month.
The largest source market of remittance flows to Jamaica for August 2021 was the USA accounting for 70 percent, of total inflows up from 66.3 percent recorded for August 2020, the bank of Jamaica report states. The central bank also indicates that Canada contributed 11.8 per cent, followed by UK and the Cayman Islands at 10 per cent and 4.9 percent, respectively.

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