Remittances rise in February by highest level in four years amid fall in active locations

Net remittance inflows totalled US$247.6 million in February, representing an increase of 3.8 per cent, compared to year-earlier levels, the latest remittance bulletin from the Bank of Jamaica stated. It is the highest percentage rise since February 2022 when remittances grew 5.8 per cent, according to previous bulletins. The 2026 rise was primarily due to an increase in total remittance inflows, supported by a marginal decline in remittance outflows.