OVERSEAS remittances have gone up by some 2 percent or about $300,000 during the first quarter of 2002 compared to the same period in 2001, according to the Department of Commerce.
The latest quarterly remittance is pegged at $17.6 million, an increase from the $17.3 million posted in the previous year’s first quarter.
Commerce said the increase is due mainly to a large number of non-resident workers on Saipan, Tinian and Rota.
The January to March overseas remittances, however, are the lowest quarterly figure for the previous three quarters.
Of all the 14 reporting remittance centers in the CNMI, PNB Corp. posted the highest quarterly remittance—$2.996 million.
This is followed by APEX Remittance with $2.806 million, and Rustan’s Foreign Exchange with $2.503 million. All are remittances to the Philippines.
Far East Financial posted a quarterly remittance of $1.745 million; America Joint Partner Corp., $1.641 million; and LBC Mabuhay (Saipan), Inc., $1.622 million.
Xiong Wai Co., Inc. remitted $1.274 million, and Universal Group Development, Inc., $1.211 million.
The other overseas remittances were coursed through Conor Express International, Inc., $733,390; Micronesia International Jewelry, $394,277; Thailand Food Store, $281,601; Limco Corp., $211,637; Oceania Remittance Center, $166,532; and Uniteller, $22,298.
