Remittances climb in the first month of the year in Jamaica


The Bank of Jamaica has published remittance numbers for the first month in 2025, noting that net remittance inflows of US$237.5 million for January 2025, represented an increase of 4.0 per cent or US$ 9.2 million in comparison to January 2024.


This was primarily due to an increase of US$9.5 million or 3.9 per cent in total remittances inflows, marginally offset by an increase in remittance outflows of US$0.3 million or 1.8 per cent .

The increase in total remittance inflows was attributed to higher inflows through both Remittance Companies and the Other Remittances channel.

The largest source market of remittance flows to Jamaica for January 2025 continued to be the United States of America. Remittances from the USA accounted for 69.7 per cent of total flows, up from the share of 69.0 recorded for January 2024.

Other source countries which contributed a notable share of remittances for the month were the United Kingdom (10.8 per cent ), followed by Canada and the Cayman Islands (8.2 per cent and 6.5 per cent, respectively).

Jamaica’s increase of 3.9 per cent for January 2025 is compared to growth of 23.8 per cent, 12.3 per cent and 1.9 per cent recorded for Guatemala, Mexico and El Salvador.

Source: Bank of Jamaica

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