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DR is among the countries that received fewer remittances in 2022

DR is among the countries that received fewer remittances in 2022

The Dominican Republic is among the countries in Latin America and the Caribbean that register a negative divergence In the Transfer income in 2022.

A recent report of the Economic Commission for Latin America and the Caribbean (ECLAC)Economic Commission for Latin America and the Caribbean) cites it Jamaica and the dominican republic Record negative differences of approximately 2 and 7%, respectively.

In the “Primary Balance of the Economies of Latin America and the Caribbean 2022” report, published last week, the United Nations organization noted that Most of the countries From the region tend to close the year b double-digit growth rate in income from Transfers of immigrants.

Highlights Nicaraguawith a growth of 45% (until September 2022), followed by Guatemala and Hondurasin increments of 20% (through October and August 2022, respectively).

follows them Ecuador, Mexico and Peruwith an increase in income for Transfers Between approximately 13 and 15% (between January and September 2022 in the case of Mexico, and between January and June in the case of the other two countries).

Bolivia, El Salvador and Paraguay fall “well below these numbers,” as long as Jamaica and the Dominican Republic Record negative differences approx 2% and 7%respectively,” he says Economic Commission for Latin America and the Caribbean.

Infographic

549.4 million AUD less

Between January and November 2022, the Dominican Republic received 8912.3 million dollars through concept Transfers Relatives representing a 5.8% decrease When comparing this amount with the same period last year, which means that $549.4 million less was received than in 2021, according to central bank data. However, the number is higher than the $7,346.9 million received in those months of 2020.

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in their monthly reports on flow Transfersthe central bank noted that the United States implemented a Help scheme As a result of the COVID-19 pandemic, which started after March 2020 until September 2021, and for this, when comparing the flows received as of September 2022 with those for the same period in 2021, for example, a decrease of about $551.9 million was observed.

However, the entity maintains that this year could close with the flows around $10,000 million.

5.8%

The percentage decrease in total family remittances received between January and November 2022 compared to the same period in 2021.

259.5dollar

Average dollars sent from the United States per official family remittance transaction between January and October 2022.

The Central Bank notes that flow From Transfers per month currently about $800 millionwhile maintaining the highest percentage of origin from the United States, where approximately 2.2 million Dominicans reside.

On average, they sent $259.5 For each official transaction to ship Transfers Conducted from the US between January and October 2022. Last year, it was an average of January and December $270.9.

“These are resources contributed by the diaspora, no doubt to her double effect Concerning consumption, investment and financing of the most vulnerable sectors,” the Central Bank highlighted in its latest report on Transfers relatives.

the region as a whole

The Economic Commission for Latin America and the Caribbean He indicated in his last report that: Transfers Of immigrants, the main item in the balance of remittances in the region, A 13% increase In the months of 2022 for which information is available, compared to the same period in 2021.

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Note that growth rate he is Underage compared to the previous year (27%) “And one of the reasons is the effect of the comparison database, because in 2021 the growth was of a size that was not observed in the previous ten years.”

For Central American economies, the low dynamism of United Statethe main trading partner and primary exporter of Transfers towards the countries of the subregion, it will affect both the external sector and private consumption,” according to the forecast Economic Commission for Latin America and the Caribbean by 2023.

Economics editor and journalism educator. Majoring in investigative journalism, multimedia and data.