The Central Bank of the Dominican Republic published updated remittance statistics showing that remittances received totalled USD 10.756bn in 2024, up USD 598.8m (5.9%) from 2023 and in line with the central bank’s projections. Remittances in December amounted to USD 1.0035bn, a 6.2% year-on-year increase. The United States remained the dominant source of formal remittances, accounting for 80.3% of December inflows (USD 710.5m). Spain contributed USD 55.9m (6.3%), followed by Italy (1.7%) and Haiti (1.0%), with Switzerland, Canada and Panama also cited as sources. The release also set out broader external-sector estimates for 2024 including tourism receipts above USD 10.6bn, foreign direct investment above USD 4.5bn covering the current account deficit, free-zone exports around USD 8.5bn and national exports above USD 5.4bn, for total foreign-currency earnings of about USD 43.6bn; international reserves were reported at USD 13.3876bn at end-December, covering 5.1 months of imports and equalling 10.8% of GDP. For 2025, the central bank projected remittance inflows of around USD 11.0bn.
Central Bank of the Dominican Republic 2025-01-09
Central Bank of the Dominican Republic reports remittances increased 5.9% to USD 10.756bn in 2024
The Central Bank of the Dominican Republic reported remittances reached USD 10.756 billion in 2024, a 5.9% increase from 2023, with the United States as the primary source. Broader external-sector estimates for 2024 included tourism receipts over USD 10.6 billion and foreign direct investment above USD 4.5 billion, contributing to total foreign-currency earnings of approximately USD 43.6 billion. The central bank projects remittance inflows of around USD 11.0 billion for 2025.