In Jamaica, more than half of total remittance inflows come from the US, particularly New York and Florida, about one-fifth from the UK, about one-tenth from Canada, and about 7-8 per cent from the Cayman Islands. They are an essential source of financing to many Jamaican remittance recipients in order to supplement household income for necessities such as food, utilities and education.¹
For January to June 2014, total remittance inflows was US$1,055.1 million compared with US$1,020.2 million in 2013, an increase of 34.9 million or 3.4%. The highest level remittance inflow has been for the first six months of any year. Total remittance inflows for June 2014 amounted to US$168.3 million compared with US$166 million in 2013, a slim increase of 1.4 % or 2.3 million however an 11% month-over-month decline. Net remittances for June was US$153.6 million.
¹Remittances to Jamaica, Findings from a National Survey of Remittance Recipients 2010
Click the link to view Remittances for the period 2009 to 2014 – diGJamaica Business Dashboard