Dominican Republic remittances grow 5.4% in first five months of 2026

Dominican Republic received $5.17 billion in remittances during the first five months of 2026, marking a 5.4% year-on-year increase, according to the Central Bank. This inflow of funds highlights the continued importance of remittances as a primary source of foreign currency for the nation, rivaling income from tourism and export processing zones.

In May alone, remittances reached $1.09 billion, an impressive 10.6% rise compared to the same month in 2025. This surge is largely attributed to the Dominican diaspora residing in the United States, which accounted for 82.3% of formal remittance flows in May. The performance aligns with the economic health of the U.S., where a strong non-manufacturing PMI indicates continued expansion in the service sector, a key employer of Dominicans in the country.

Beyond the United States, other significant contributors to remittance flows in May included Spain, with $62.0 million (6.2% of the total), followed by Italy and Haiti, each contributing 1.2%. Switzerland accounted for 1.1%, with smaller amounts coming from France, Canada, and Germany. These diverse sources underscore the global reach of the Dominican diaspora and its vital role in the country's economy.