Remittances up by 38.4% in September 2020 

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Jamaica News: The Bank of Jamaica (BOJ) is reporting that the country’s net remittances

for September 2020, grew US$239.2 million or 38.4 per cent, to US$66.3

million when compared to 2019.

The data released show that growth in net remittance inflows reflected an

increase in gross remittance inflows and a contraction in outflows.

Gross remittance inflows for the month reflective an increase of 34.4 per cent or US$66.5 million partly offset by an increase 0.9 per cent or US$0.2 million in outflows.

The central bank also noted that the increase in gross remittance inflows was driven by an increase of 39.5 per cent and 6.2 per cent in Remittance Companies and Other Remittances, respectively.

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