Dominican Republic Remittances Top $9.4 Billion Through September

Remittances to the Dominican Republic totaled US$9,489.8 million during the first nine months of 2026, up US$577 million from the same period in 2025, as money sent by Dominicans living abroad continued to provide a significant source of foreign currency for the Caribbean economy.

The Central Bank of the Dominican Republic (BCRD) reported that inflows increased 6.5% year over year from January through September. September alone accounted for US$1,057.1 million, a 6.6% increase compared with September 2025 and the seventh consecutive month in which monthly remittances exceeded US$1 billion.

The figures highlight the economic importance of the Dominican diaspora, particularly in the United States and Spain, while providing additional foreign currency that can help finance imports, support household spending and contribute to the country’s international reserves.

Dominican Republic Remittances: Key Figures for 2026

The Central Bank’s latest report shows continued growth in transfers from Dominicans overseas, despite international economic uncertainty and higher energy costs.

These figures come from the Central Bank’s September 2026 remittance report. The full-year figure is a projection, not a final result.

United States Remains the Main Source of Remittances

The United States continued to be the largest source of formal remittance transfers to the Dominican Republic. The Central Bank reported US$780.1 million in transfers originating there during September, reflecting the close relationship between remittance flows and economic conditions affecting Dominican workers abroad.

The US services sector remained in expansion territory during the month. The Institute for Supply Management’s Services Purchasing Managers’ Index (PMI) registered 54.9 in September, with readings above 50 indicating expansion. The indicator suggests continued activity in a sector that employs many workers, including members of the Dominican diaspora.

However, the broader US labor market showed signs of a more measured pace. The Bureau of Labor Statistics reported an unemployment rate of 4.2% in September, compared with 4.1% in August, while nonfarm payroll employment increased by 29,000 jobs. These figures provide context for the conditions facing remittance senders, although they do not establish a direct cause for the monthly increase in transfers.

Spain was the second-largest country of origin cited by the Central Bank, with US$59.9 million in transfers during September. Italy, Haiti and Switzerland also contributed to inflows, alongside France, Canada, Germany and other countries.

Remittances Concentrated in the Capital and Major Urban Areas

The geographic distribution of transfers within the Dominican Republic remained heavily concentrated in the capital and other major population centers. According to the Central Bank, the National District received 51.2% of September’s remittance inflows, followed by Santiago province with 9.5% and Santo Domingo province with 6.6%.

The three areas together accounted for 67.3% of the month’s transfers. This concentration reflects the importance of major urban centers in the country’s population and economic activity, although the figures alone do not indicate how the funds were distributed among individual households or businesses.

Foreign Currency Inflows Support Exchange-Rate Stability

Beyond their direct role in household finances, remittances are an important component of the Dominican Republic’s external accounts. They supply dollars and other foreign currencies that can help meet demand for imports and other international payments.

The Central Bank reported that the Dominican peso had appreciated 5.4% against the US dollar as of September 30, compared with December 2025. It also reported international reserves of US$15,239.9 million at the end of September, equivalent to 10.5% of gross domestic product and approximately 5.4 months of imports.

These reserves provide a buffer against external shocks and help the country meet foreign currency needs. Remittances contribute to the supply of foreign exchange alongside tourism receipts, exports, foreign direct investment and other service income. Exchange-rate movements, however, depend on a broader set of economic and financial factors and cannot be attributed to remittances alone.

Dominican Republic Projects More Than US$50 Billion in Foreign Currency Income

The Central Bank expects foreign currency inflows to remain strong through the end of 2026. Its projections point to more than US$12.2 billion in tourism revenue and approximately US$12.6 billion in remittances for the full year.

The institution also expects total exports to exceed US$17.2 billion and foreign direct investment to surpass US$5.3 billion. Other exported services are projected to generate approximately US$3.3 billion.

These estimates illustrate the range of external income sources supporting the Dominican economy. They remain projections and will depend on economic conditions in the country’s principal trading and tourism markets, as well as on international investment decisions.

Why Remittances Matter for Dominican Households

For many Dominican families, money sent from abroad helps cover everyday expenses, including food, housing, education, healthcare and other household needs. The transfers can also support local consumption and economic activity in communities where recipients live.

At the national level, sustained remittance growth strengthens one of the Dominican Republic’s major sources of external income. Yet the effect on individual households depends on transfer fees, exchange rates, local prices and how much money recipients receive relative to their expenses.

The Central Bank said it would continue monitoring international developments and their potential impact on the Dominican economy while pursuing its inflation objective and maintaining macroeconomic stability. With remittances already above US$9.4 billion through September, the remaining months of 2026 will help determine whether the country reaches its projected annual total of approximately US$12.6 billion.