Nicaragua: Remittances Up 9%

Between January and July, Nicaraguans living abroad sent $509 million to the country, which is 9% more than in the same period in 2010.

Wednesday, September 28, 2011

Despite the economic crisis affecting the United States, one of the main destinations of choice for Nicaraguans seeking better opportunities, the money they send to their families in Nicaragua continues to grow.

In the first half of the year money sent amounted to over $500 million, 9% more than what was sent in the first half of last year.

According to an article in Laprensa.com.ni: "The vast majority of these resources come from the U.S., followed by Costa Rica, the main destinations for Nicaraguan migrants."

¿Busca soluciones de inteligencia comercial para su empresa?



More on this topic

Remittances in Guatemalan Economy

April 2012

In 2011 remittances grew by 5% compared to 2010; so far 2012 the amounts have already exceed those from the same period in 2009, making up 10%-11% of Guatemala's GDP.

In 2011, remittances to Guatemala exceeded the record highs of 2007 and 2008, before the global crisis. Last year, Guatemalan migrants sent home $4.378 billion, according to the Bank of Guatemala (Banguat).

El Salvador Receives $2.708 million in Remittances

October 2011

From January to September, the country’s remittances were 5.3% more than in the same period in 2010.

In September alone, $286 million came into the country, exceeding the $26 million that came in September 2010.

The largest increase was recorded in the third quarter (July-September), being 7.3% more than in the same period last year.

Remittances to Guatemala Increase by 8.5%

September 2011

In August, total remittances received amounted to $409.5 million, 8.5% higher than in the same month in 2010.

In July remittances reported a decline of 9% compared to the same month in 2010.

According to the Bank of Guatemala, between January and August the total amount of remittances coming into the country was $2.934 million, 6.7% higher than the $2.748 million in the same period of 2010.

Remittances to El Salvador as of March Reach $866 Million

April 2011

Remittances, vital for the country's economy, saw a 4.5% increase, year-on-year in the first quarter of 2011.

On average, in the first quarter of the year the country received $286.6 million in remittances, 0.9% more than the figure recorded in the same period of 2010.

"Remittances are an important source of income for the Salvadoran economy, making up 16.3% of the annual Gross Domestic Product (GDP), equivalent to 76.7% of total export value and covering 40.1% of the value of goods imported," according to Elsalvador.com.

ok