Net Remittances Jump 14.2% in November 2025

• For November 2025, the first month after Hurricane Melissa struck, net remittance inflows to Jamaica rose by 14.2% year-over-year to US$281.2Mn, according to the Bank of Jamaica (BOJ). This improvement reflected a US$38.1Mn (+14.3%) increase in total remittance inflows, partially offset by a US$3.0Mn (+15.3%) rise in remittance outflows, likely reflecting heightened post-Hurricane Melissa support flows to affected households. The expansion in inflows was primarily driven by stronger activity through remittance companies, while inflows via other remittance channels recorded a marginal decline.
• The expansion in inflows was likely driven by stronger activity through remittance companies. The United States remains the dominant source market, accounting for 66.9% of total remittance inflows in November 2025, although this represented a slight decline from 67.9% in November 2024. Other key corridors included the United Kingdom (12.5%), Canada (9.8%), and the Cayman Islands (6.0%), underscoring continued geographic diversification despite U.S. concentration.
• On a fiscal-year-to-date basis (FY2025), net remittance inflows increased by 2.8% to US$2.17Bn, supported by a US$66.2Mn (2.9%) rise in total remittance inflows, which more than offset a US8.00Mn (5.3%) increase in remittance outflows. This steady expansion provides an important buffer for the current account, particularly as import demand is expected to rise in connection with post-hurricane reconstruction and recovery efforts.
• Looking ahead, the BOJ expects remittance inflows to remain supportive over the medium term, aided by ongoing digital adoption, improved payment infrastructure, and diversified remittance channels. However, there are risks to remittance inflows, including a gradual cooling in U.S. economic growth and easing labour tightness that could moderate migrant income growth over the medium term.

(Sources: BOJ & NCBCM Research