A recent analytical report by the Inter-American Development Bank (IDB) has revealed that Trinidad and Tobago (TT) experienced the slowest remittance growth in the Caribbean in 2025, lagging significantly behind its regional counterparts. Remittances, which refer to funds sent by individuals working or living abroad to their families back home, serve as a crucial financial lifeline for households across the region. These transfers are particularly vital in low- and middle-income countries, helping families manage living expenses and providing economic stability during challenging times. According to the IDB’s ‘Remittances to Latin America and the Caribbean in 2025’ report, TT saw a mere 1.3% increase in remittance inflows, the lowest among all Caribbean nations analyzed. In contrast, the broader Caribbean region recorded a 9.2% growth, driven by strong inflows to the Dominican Republic, Haiti, and Jamaica. TT’s minimal improvement starkly contrasts with the region’s overall momentum. The Caribbean collectively received $20.883 billion in remittances in 2025, accounting for 12% of all transfers to Latin America and the Caribbean. While the report did not provide a specific figure for TT, it identified the country as one of the smaller recipients in the subregion. The study highlighted general factors influencing Caribbean remittance trends, such as labor market participation in the U.S. and the financial strategies of migrant households, but did not pinpoint specific reasons for TT’s weak performance. Instead, TT was grouped with economies where remittance inflows remain modest and have shown limited growth in recent years. The IDB emphasized that remittances continue to play a stabilizing role in household income across the region, particularly in countries with growing diaspora communities that maintain strong financial ties with their families. For many households, these transfers represent essential monthly contributions from relatives working abroad, quietly but significantly impacting daily expenses. The report is part of the IDB’s ongoing efforts to monitor cross-border family transfers, which are essential for understanding consumption patterns, vulnerability, and the financial behavior of migrant populations.
IDB: Trinidad and Tobago had lowest remittances in Caribbean in 2025
