The Central Bank of the Dominican Republic (BCRD), reported on Tuesday that in the first two months of the year 2025 the remittances received achieved a figure of US $ 1,852.6 million, exhibiting an 8.3 % growth compared to the same period of the previous year.
The report stressed, the month of February registered a remittance value of about US $ 917.0 million, with an increase of 9.7 %, compared to February 2024. These resources sent by the Dominican diaspora abroad are important for development, since they generate a multiplier effect on consumption, investment and financing of the most vulnerable sectors of the country
The BCRD explains that, despite the uncertainty about the economy of the USA, One of the main factors that affected the behavior of remittances was the performance during the month of February of some key indicators of this economy, since from that country 83.6 % of the formal flows of the month analyzed originated, about US $ 710.0 million.
You can read: BC reported RD received US $ 935.6 mm in remittances
On the one hand, the general unemployment rate of the North American country was 4.1 % in the month of February, varying slightly compared to 4.0 % of last January and being maintained around full employment levels.
Additionally, the Index of Purchase Management (PMI) Non -Manufacturing Non -Manufacturing of the Institute of Management and Supply (ISM) recorded a value of 53.5 in February, indicating the expansion of the North American services sector, where most of the Dominican diaspora are used. Likewise, these flows show that, even with the complex situation of migrants in the American nation, the Dominicans have managed to continue sending currencies to their relatives in our country.
The BCRD also highlights the reception of remittances by formal channels from other countries in February, such as Spain, for a value of US $ 53.5 million, 6.3 % of the total, this being the second country in terms of the total residents of the Dominican diaspora abroad, as well as Haiti, Italy and Switzerland, with 1.1 %, 1.0 % and 1.0 % of the flows received, respectively. In the rest of the remittance reception, countries such as Canada and France are distinguished, among others.
Remittances by province
Regarding the distribution of remittances received by provinces, the BCRD notes that the National District received a proportion of 44.6 % during February, followed by the provinces of Santiago and Santo Domingo, with 11.5 % and 7.2 %, respectively. This reveals that about two thirds (63.3 %) of remittances are received in the metropolitan areas of the country.
The most recent perspectives of the BCRD on the Dominican external sector contemplate a positive evolution of currency income for 2025. On the one hand, tourism revenues would add up to US $ 11.4 billion and remittances would be located around US $ 10.9 billion. Total exports are estimated at about US $ 14.8 billion and foreign direct investment (FDI) would exceed US $ 4,000 million per fourth consecutive year, standing at about US $ 4.7 billion at the end of the year. All these flows, together with the rest of the exported services, would reach a total of foreign exchange revenues above US $ 45.6 billion for the closing of 2025.
These currency inputs would continue to favor the relative stability of the exchange rate that is currently observed, so that, during the first two months of 2025 there has been a accumulated depreciation of 1.9 %. This has been promoted by the seasonal demand for currency of the merchandise import companies for inventory and payment to supposition, as well as the precautionary demand of economic agents due to the greatest uncertainty in global markets. However, at the end of February the interannual depreciation of the Dominican weight was less than that of countries such as Argentina, Mexico, Brazil, Uruguay and Paraguay.
These higher external income flows also contribute to maintaining an adequate level of international reserves, which reached at the end of February US $ 14,904.6 million, equivalent to 11.6 % of the Gross Domestic Product (GDP) and about 5.4 months of imports, above the thresholds recommended by the International Monetary Fund (IMF).
The Central Bank reaffirms its commitment to surveillance on the current economic environment to continue taking the necessary measures to counteract the impact on the Dominican economy of the challenging international panorama, in order to guarantee price stability and the exchange market.
