Net International Reserves Up by Over US$100.00Mn in May

• At the end of May 2021, Jamaica’s net international reserves (NIR) amounted to US$3.42Bn, which was 3.0% (or US$100.92Mn) higher than in April. A US$97.09Mn increase in foreign assets, and a marginal US$3.83Mn contraction in foreign liabilities contributed to the improvement. 
• The current recovery in the tourism sector with May having the highest number of overseas visitors since the country reopened its borders to tourists in June last year, augurs well for the NIR. Furthermore, remittance inflows have also remained robust supported by rising employment and government stimulus in source markets. 
• At the end of April 2021, the country had 30.57 weeks of goods and service import, which is higher than the 29.88 reported last month.

(Source: BOJ)