The organization highlights that the growth in March occurred despite the complex international environment that currently prevails
SANTO DOMINGO – The Central Bank of the Dominican Republic (BCRD) reported this Monday that remittances received between January and March 2026 reached US$3,019.6 million, a 1.9% year-on-year increase. Specifically, in March, US$1,149.2 million was received, an amount US$38.9 million (3.5%) higher than that received in March 2025 and considerably higher than the US$261.6 million (29.5%) received in February of this year.
The organization highlights that the growth in March occurred despite the complex international environment currently prevailing. Conflicts in the Middle East have driven up oil and petroleum product prices, generating greater inflationary pressures and reducing household disposable income, it explains.
He adds that the surge is largely due to remittances sent by Dominicans in the United States, the country from which 84.2% of the formal flows received in March originated, equivalent to approximately US$879.9 million. It is important to note that, during this period, the Dominican diaspora in the United States receives a significant portion of the tax refunds issued by the Internal Revenue Service (IRS), thus increasing its remittance capacity.
Unemployment in the United States
In addition, overall unemployment in the United States stood at 4.3% in March, a decrease from the 4.4% recorded in February 2016, after 178,000 jobs were added during the month. For the Latino population, the unemployment rate was 4.8%, an improvement compared to the 5.2% recorded in February 2016. Furthermore, the Institute for Supply Management's (ISM) non-manufacturing Purchasing Managers' Index (PMI) registered a value of 54.0 in March, continuing the expansionary trend in the services sector. This sector accounts for a significant proportion of employment within the Dominican diaspora.
The Central Bank of the Dominican Republic (BCRD) also highlights the receipt of remittances through formal channels from other countries in March, such as Spain, which received US$54.9 million, representing 5.3% of the total. Spain is the second largest recipient of remittances from the Dominican diaspora abroad. Haiti and Italy each received 1.1%, and Switzerland 1.0%. Other countries receiving remittances include Haiti, Canada, and Panama.
National District the largest proportion
Regarding the distribution of remittances received by province, the Central Bank of the Dominican Republic (BCRD) indicates that the National District received 48.3% during March, followed by the provinces of Santiago and Santo Domingo, with 10.6% and 7.0%, respectively. This indicates that almost two-thirds (65.9%) of remittances are received in the country's metropolitan areas.
The 1.9% growth in remittance flows received between January and March is consistent with the projections of this Central Bank, which maintain a year-on-year growth of 3.5% for 2026, lower than that observed in 2025, considering the entry into force last January of the new tax on remittances from the US, and the uncertainty of the current international environment.
Analyzing the evolution of the external sector, the Central Bank of the Dominican Republic (BCRD) anticipates a favorable trend in foreign exchange earnings during 2026, including tourism revenue, foreign direct investment (FDI), and exports, along with remittances. Remittances are estimated to reach approximately US$12.2 billion, and FDI is projected to exceed US$5 billion by year's end.
These foreign exchange inflows will contribute to maintaining the current relative stability of the exchange rate, such that, as of March 31, 2026, the national currency appreciated 3.4% against the US dollar compared to December 2025. These higher external flows also allow for maintaining an adequate level of international reserves, which at the end of March stood at US$16,143.1 million, representing 12.2% of GDP and covering approximately 5.8 months of imports, indicators above the thresholds recommended by the IMF.
The Central Bank reaffirms its commitment to monitoring the current economic environment in order to continue taking the necessary measures to counteract the impact of the challenging international landscape on the Dominican economy, thereby ensuring price and exchange rate stability.
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