Economy November 18, 2024 | 12:05 pm

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Haiti ranks third in remittances to Dominican Republic

Santo Domingo.- Despite having a small Dominican community, Haiti ranked third in remittances sent to the Dominican Republic in October, following the United States and Spain. According to the Central Bank of the Dominican Republic (BCRD), Haiti accounts for 1.4% of all remittances, surpassing countries with larger Dominican populations, such as Italy, Switzerland, Canada, and Panama.

The United States remains the top contributor, responsible for 82.2% of remittances in October, totaling $694.5 million. This influx was bolstered by a strong U.S. job market, with unemployment at 4.1% and 12,000 new jobs created. Additionally, growth in the U.S. services sector, where many Dominicans work, further supported remittance flows.

Spain, with its significant Dominican diaspora, ranked second, contributing $53.3 million (6.3% of total remittances). The BCRD emphasized that remittances from various countries continue to play a critical role in the Dominican economy, with formal channels ensuring a steady inflow.

Source: N Digital

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manuel P QUINONES
November 18, 2024 12:25 pm

good job at not giving the dollar amount of such remmitances.

John Smith
November 19, 2024 9:37 am

1.4% is approximately 11.83 million. 100% is 845 million.

Dave C.
November 18, 2024 1:08 pm

I’m curious to know what employment opportunities there are for Dominicans in Haiti when majority of people in that country are severely struggling on the daily..

edd
November 21, 2024 9:48 am
Reply to  Dave C.

those are rich haitians sending money to their kids, AND FAMILIES in DR

luis pena
November 19, 2024 10:30 am

those are not remmitances those are haitian merchants paying their dominican suppliers.
i do it very often.

Ranchero
November 19, 2024 5:32 pm

There is large community of upper and middle class Haitians who took refuge in the DR because it is cheaper than the US. Head of family stays to run the business in Haiti and send money to wife and children each month

Ramon Garcia
November 23, 2024 10:13 pm

Haitians that live in DR send US$1 billion yearly in remittances. Dominican tax payers pay US$500 million to cover for undocumented Haitian healthcare every year.

Paul Tierney
November 26, 2024 11:21 am
Reply to  Ramon Garcia

The Haitians that live in the RD do not have that total amount of money to send. It is a pool of Haitian-Americans and the Haitians in the RD that send the remittances. The Haitian-Americans send the greater percentage of funds.

Last edited 27 days ago by Paul Tierney
Ramon Garcia
November 23, 2024 10:17 pm

Haiti receives US$ 1 billion dollars from DR yearly on remittance.

Paul Tierney
November 26, 2024 11:18 am
Reply to  Ramon Garcia

The amount from the USA is larger, about 1.6 billion.

Paul Tierney
November 26, 2024 11:06 am

The large amounts of remittances sent from Haiti is not unusual. Haiti is the RD’s 2nd biggest trading partner. The USA is the largest trading partner. Some payments for purchased services and materials are transmitted to RD vendors through the Haitian remittances.

Last edited 27 days ago by Paul Tierney