Jamaica — Net Remittances Show Decline

The flow of remittances to Jamaica showed a decline in May.

According to the Bank of Jamaica, remittance inflows were valued at US$271.2 million, a 6.7% reduction compared to last year.

Total net remittance inflows for January to May amounted to US$1.3 billion.

That was US$38 million or 3% lower when compared to the same period in 2021.

The U.S. remained the main source market for remittance inflows, with 70.7% of funds coming from that jurisdiction.

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Edited by Jesus Chan

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