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Haiti: Money Transfers in Haiti, accounted for more than 30.7% of GDP in 2018

According to the World Bank, remittances from the diaspora to Haiti reached a record level in 2018, amounting to 2.986 billion dollars (+ 9.70% compared to 2017) or 30.7% of Gross Domestic Product (GDP ) of Haiti.

The ranking of the main beneficiary countries in the region is dominated by #1 Mexico ($36 billion received in 2018), #2 Guatemala ($ 9.5 billion) and #3. The Dominican Republic ($ 6.7 billion), Haiti ranks 7th.

Recall that Haiti crossed for the first time the threshold of $2 billion in transfers in 2015 (2.1 billion) and since then only experienced increases of 2.3 billion in 2016; 2.7 billion in 2017 and 2.9 billion in 2018. If in comparison, the Dominican Republic is experiencing the same growth trajectory, the 6.7 billion received in 2018 however this amount represent only 8.4% of the GDP of the Dominican Republic.

In contrast, the money transfers sent by Haiti outward according to the World Bank amounted in 2017 to $298 million (3.5% of GDP) against $ 635 million for our Dominican care (0.8% of GDP).

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