Annual value of outgoing and incoming remittance flow in Jamaica 2021, by country

Remittance inflows to Jamaica were nearly 120 times larger than the outgoing value to countries abroad in 2021, according to a ranking that maps the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Jamaica, the top five recipient countries for remittances in 2021 included the United States, India, the United Kingdom, Guatemala, and Trinidad and Tobago. Jamaica's main source for remittances - accounting for more than 70 percent of all inflow - was the United States, followed by Canada, the United Kingdom, the Cayman Islands, and the Bahamas.