El Salvador: Largest Increase in Remittances in 35 Months

January foreign wires reported a 9.9% growth compared to same month in 2010.

Friday, February 11, 2011

Salvadoran families received remittances worth a total of $ 259.3 million during the month of January of this year, reported the Central Bank of El Salvador.

Remittances showed an increase of 9.9%, equivalent to $ 23.3 million, compared to January 2010, with the highest growth seen in the last 35 months.

The improvement observed in US unemployment rates influenced the increase in January wires.

More on this topic

Remittances Grow by 9% in First Quarter

May 2012

Salvadorans living abroad sent home $1,278.3 million between January and April 2012, $104.9 million more than in the same period last year.

These figures represent an increase of 8.9%, according to Banco Central de Reserva (BCR).

According to the BCR, monthly average remittances for the period January-April this year amounted to $319.6 million, "exceeding by 26.2 million per month the 293.4 million received during the first four months of the previous year," reported Laprensagrafica.com.

El Salvador Receives $3,286 million in Remittances

December 2011

Between January and November 2011 the country received $181.3 million more than in the same period in 2010.

A press release from the Central Reserve Bank of El Salvador (BCR) reads:

Salvadorans living abroad sent home remittances totaling U.S. $3,286.1 million accumulated between January and November 2011, more than the U.S.

Remittances to Guatemala Up in 2011

March 2011

Remittances in February 2011 reported an 11% increase over the same period of 2010.

During the first two months of 2011, remittances have increased 12.9%.

$283.8 million entered the country inJanuary 2011, a 15.1% increase over the $246.1 million recorded in the same month of 2010.

Salvadoran Remittances Up 4%

December 2010

Until November the amount of remittances received totaled $ 273.2 million, 4% above the same period of 2009.

According to the Reserve Bank the monthly average received this year was $ 290.6 million, up from $ 184.4 million of the monthly average of 2009.

"As reported by the BCR, the situation of remittances in Latin America has generally improved this year, compared with the balance of 2009", reported Laprensagrafica.com.

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