Remittances expand by 5.03% in Q1

- Wednesday, May 25, 2011

Remittances expand by 5.03% in Q1

Remittances to the Dominican Republic grew by 5.03% year-on-year in the first quarter, according to the latest numbers from central bank BCRD.

Dominicans living abroad sent home US$764mn in remittances during the first quarter compared to US$727mn in 1Q10, the figures show.

The 1Q11 figure was the highest recorded for the first quarter since 2008, and shows a similar trend seen in several Latin American countries, where remittances seem to have shaken off the severe impact of the 2008-09 global economic crisis.

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