In the first quarter of 2025, the Dominican Republic received approximately US$2.64 billion in remittances, marking a 6.2% increase compared to the same period in 2024, according to the Central Bank of the Dominican Republic (BCRD). This growth underscores the continued importance of remittances to the nation’s economy.
The monthly breakdown reveals a robust start to the year, with remittances growing by 9% in January and 9.4% in February year-over-year. However, March saw a significant slowdown, with growth tapering to just 1.1%, indicating potential challenges ahead.
The United States remains the primary source of remittances, accounting for 83.6% of the total in the first two months of 2025. Spain follows as the second-largest contributor.
Despite the early gains, analysts caution that overall remittance growth in 2025 may be more modest than in 2024. Factors such as a potential economic slowdown in the U.S. could impact the volume of funds sent abroad.
Remittances play a vital role in the Dominican economy, supporting consumption, investment, and providing financial assistance to vulnerable populations. As such, monitoring these inflows is crucial for economic planning and stability.
