By Dolores Vicioso

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The Central Bank reports that remittances to the Dominican Republic are surging, with new data showing a strong start to 2025. Between January and August, the country received a total of US$7.92 billion in remittances, an 11.4% increase over the same period in 2024.

The momentum continued into August, with the month alone bringing in US$1.05 billion, a 9.9% jump compared to August of the previous year. This marks the third time in 2025 that monthly remittances have exceeded the US$1 billion mark, a significant milestone for the country’s economy.

According to the BCRD, the sustained flow of funds from the Dominican diaspora is a major economic driver, boosting consumption, investment, and providing crucial support for vulnerable sectors of society.

The Central Bank attributes much of this success to the robust performance of the US economy, which accounts for a dominant 80.4% of all formal remittance flows. Despite a slight uptick in the U.S. unemployment rate to 4.3% in August, the addition of 22,000 new jobs and an expanding service sector—where many Dominicans are employed—has kept the money flowing.

While the U.S. remains the top source, other countries are also contributing significantly. Spain is the second-largest source, sending US$71.4 million in August, or 7.6% of the total. Other notable contributors include Italy, Haiti, and Switzerland.

Geographically, the capital region remains the primary destination for these funds. The National District received a staggering 47.5% of remittances in August, followed by the provinces of Santiago (10.6%) and Santo Domingo (7.0%). This means that about two-thirds of all remittance money goes to the country’s metropolitan areas.

Looking ahead, the Central Bank forecasts a bright outlook for foreign currency inflows, projecting that remittances will reach approximately US$11.7 billion by the end of 2025. This, combined with strong performance in tourism, exports, and foreign direct investment, is helping the Dominican Republic maintain a stable exchange rate and healthy international reserves. The country’s reserves hit US$13.89 billion at the end of August, covering about 5.1 months of imports—well above the thresholds recommended by the International Monetary Fund.

Read more in Spanish:Central Bank

16 September 2025