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Caribbean, Trade

D.R. Received $2.1 Billion In Remittances In 2002

Contrary to concerns they would contract after 9/11


March 6, 2003
Copyright © 2003 CARIBBEAN BUSINESS. All Rights Reserved.

The Dominican Republic (D.R.) in 2002 was the recipient of $2 billion in remittances from the U.S., according to a report of the Multilateral Investment Fund of the Inter-American Development Bank in Washington.

Leading the lists in the hemisphere was Mexico whose nationals resident in the U.S. sent $10.5 billion home in 2002. Second on the list was Brazil at $4.6 billion, followed by Colombia ($2.4 billion) and El Salvador ($2.2 billion).

Other countries in the Caribbean on the list are Jamaica ($1.3 billion), Cuba ($1.14 billion), Haiti ($931 million), Guyana ($119 million) and Trinidad & Tobago ($59 million).

The study noted there was "an explosion" in remittances in 2002, compared with 2001, with certain countries registering big increases. They included Colombia (+28%), Jamaica (+27%) and Peru (+24%).

This Caribbean Business article appears courtesy of Casiano Communications.
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