Remittance inflows to Jamaica increased by 4.2 per cent during the first six months of this year, reaching approximately US$1.8 billion.
The Bank of Jamaica says the increase was driven in part by a US$24-million rise in remittance inflows in June.
The latest figures come as Jamaica's trade deficit continues to widen.
The Statistical Institute of Jamaica (STATIN) reports that the gap between merchandise imports and exports reached approximately two billion U.S. dollars during the first four months of this year.
Remittances are an important source of foreign exchange and help to finance part of Jamaica's import bill and narrow the impact of the trade deficit.
However, the BOJ says Jamaica's 4.2 per cent increase in remittance inflows was below the growth recorded in some other major remittance-receiving countries in the region.
Guatemala recorded growth of seven per cent, while El Salvador saw an increase of 4.8 per cent.
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