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Santo Domingo.- Despite having a small Dominican community, Haiti ranked third in remittances sent to the Dominican Republic in October, after the United States and Spain. According to the Central Bank of the Dominican Republic (BCRD), Haiti represents 1.4% of all remittances, surpassing countries with a larger Dominican population, such as Italy, Switzerland, Canada and Panama.
The United States remains the main contributor, responsible for 82.2% of remittances in October, for a total of 694.5 million dollars. This influx was fueled by a strong US labor market, with unemployment at 4.1% and 12,000 new jobs created. Additionally, the growth of the United States service 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 fundamental role in the Dominican economy, with formal channels that guarantee a constant flow.
Source: N Digital