Men acquired 51.3% of remittances throughout 2021

The Central Bank of the Dominican Republic (BCRD) reported that in December 2021 the remittances acquired reached a determine of US $ 940.8 million, surpassing by US $ 68.5 million these registered in December 2020.

This worth exceeded by US $ 284.1 million, 43.3%, the remittances acquired in December 2019, the 12 months previous to the pandemic, an announcement from the establishment states.

Analyzing the flows of December 2021 in response to the gender of the one that receives, lMen captured 51.3% and ladies 48.7% of remittances acquired by means of formal channels.

The complete inflows this 12 months reached US $ 10,402.5 million, about US $ 2,183.2 million greater than the identical interval of 2020, registering a 26.6% year-on-year development, this being the best degree ever reached.

The BCRD explains that the continual enchancment in financial circumstances within the United States (USA) is likely one of the essential components that continues to have an effect on the conduct of remittances, since 83.2% of the December flows got here from that nation.

The restoration of that economic system is mirrored in employment in that nation, particularly after the creation of 199,000 new jobs within the final month of the 12 months.

Consequently, the unemployment charge decreased 0.3% in comparison with November, standing at 3.9% on the finish of December. In specific, the unemployment of Hispanics within the US went from 5.2% in November to 4.9% in December.

The BCRD notes that, In addition to the US, the receipt of remittances from Spain stands out within the order of seven.2%, nation that’s dwelling to many of the Dominican diaspora in Europe. Other vital international locations by way of the origin of remittances are Haiti and Italy with 1.4% and 1.0% of the flows acquired, respectively. The remainder of the receipt of remittances is split between international locations similar to Switzerland, Canada and Panama, amongst others.

Regarding the distribution of remittances acquired by provinces, the BCRD signifies that the National District obtained the best proportion, 33.7%, adopted by Santiago and Santo Domingo, with 14.1% and eight.9%, respectively. This signifies that greater than half (56.8%) of remittances are acquired within the metropolitan areas of the nation.

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