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BiggerDominican record: Feb. remittances top US$1.04B
Santo Domingo.- Dominican Republic Export and Investment Center (ProDominicana) director Biviana Riveiro said Tue. that the country’s exports once again set a historical record in January and February 2022.
She said those months exhibited amounts as high as US$811.5 million and US$1.04 billion, respectively according to preliminary records from the General Directorate of Customs (DGA).
Riveiro pointed out that with these values, Dominican exports accumulate 12 consecutive months with historical values in the total exported per month. In specific terms, these results are shown from February 2021 to February 2022.
According to a statement from ProDominicana, the main markets that explain this behavior in the first two months of 2022 are: the United States, with an absolute year-on-year increase of US$177 million; India, with an increase of US$107 million; China, with US$46 million; and Haiti, with some US$37 million.
Most people think that this is just family sending money to their people to survive.
Actually i know lots of people with business in the States that receive their money via remittances because they deliver it to your house directly and dont need to go to a bank. This looks like there is alot of people with businesses in the states retiring in the Dominican Republic because the numbers of remittances are getting higher and higher everytime.
Just compare to Haiti with same population and more poverty they just receive $3.8 billion compared to DR with $10 billion received, that means no one is moving to haiti unlike in the DR which we have seen massive flow of Dominicans coming back to retire with their pensions and their investements abroad.