SANTO DOMINGO – The Central Bank of the Dominican Republic (BCRD) reported that remittances to the country reached US$5,170.1 million during the period of January to May 2026, representing a year-on-year increase of 5.4%. Specifically, US$1,090.2 million was received in May, exceeding the amount recorded in the same month of 2025 by US$104.8 million and equivalent to a year-on-year growth of 10.6%. This amount was also US$30.0 million (2.8%) higher than the total received in April 2026.
The agency notes that this growth in May occurred despite the complex international environment currently prevailing, citing the persistence of conflicts in the Middle East, which have raised the prices of oil and its derivatives, generating greater inflationary pressures and reducing household disposable income.
The institution highlights that this performance is largely attributed to remittances from the Dominican diaspora residing in the United States, which accounted for 82.3% of the formal remittances received in May, equivalent to US$827.9 million. This result aligns with the performance of the US economy, where the Institute for Supply Management's (ISM) non-manufacturing Purchasing Managers' Index (PMI) registered a value of 54.5 in May, sustaining the expansion of the services sector, which accounts for a significant proportion of Dominican employment in that country. Likewise, the overall unemployment rate in the United States stood at 4.3% in May 2026, the same level as the previous two months, with 172,000 new jobs created during that period.
Originating countries
The Central Bank of the Dominican Republic (BCRD) also highlights the receipt of remittances through formal channels from other countries during the month of May. In this regard, Spain registered US$62.0 million, equivalent to 6.2% of the total, positioning itself as the second largest source of remittances, consistent with the size of the Dominican diaspora abroad. This was followed by Italy and Haiti, each with a 1.2% share, and Switzerland, with 1.1% of the flows received. The remaining percentage was distributed among countries such as France, Canada, and Germany, among others.
Regarding the geographical distribution of remittances, the Central Bank of the Dominican Republic (BCRD) indicates that the National District received 49.7% of the flow in May, followed by the provinces of Santiago and Santo Domingo, with 10.1% and 6.8%, respectively. These figures reflect that the country's metropolitan areas concentrated two-thirds (66.6%) of the total funds received during the month.
These inflows of foreign currency have contributed to the relative stability of the exchange rate currently observed, such that, as of May 31, 2026, the national currency appreciated 7.8% against the US dollar compared to December 2025. These increased external flows also allow for maintaining an adequate level of international reserves, which at the end of May stood at US$15,771.1 million, representing 11.7% of GDP and covering approximately 5.7 months of imports, indicators above the thresholds recommended by the IMF.
The Central Bank of the Dominican Republic's (BCRD) most recent outlook for the external sector anticipates continued positive growth in foreign exchange earnings throughout 2026. Specifically, tourism revenues are projected to exceed US$11.9 billion, while remittances are expected to surpass US$12.2 billion. Total exports are estimated at around US$17.3 billion, and foreign direct investment (FDI) is projected to exceed US$5.3 billion. The dynamism of these flows, combined with other service exports (approximately US$3.2 billion), is expected to result in total foreign exchange earnings exceeding US$50.2 billion by the end of 2026.
The Central Bank reaffirms its commitment to monitoring the current economic environment in order to continue taking the necessary measures to mitigate the impact of the challenging international landscape on the Dominican economy, thereby ensuring price and exchange market stability.
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