Remittances averaged $290 million each month during this semester, whereas the average was $323.1 during the first half of 2008, according to data from the Reserve Bank (BCR).

From elsalvador.com: "After almost three decades of continued growth, remittances have started to fall at double digit rates, severely diminishing economic activity. Consumption takes the worst part, as it depends heavily on money sent by Salvadorans abroad."

Source: elsalvador.com

More on this topic

Remittances to Guatemala fell by 9% in July

August 2011

After 16 months of continuous growth, remittances in July were down 9% compared to the same period in 2010.

According to the Bank of Guatemala (Banguat), remittances received in July totaled $349.8 million, 9% less than the $384.6 million received in the same month in 2010.

El Salvador: Remittances Down 10% in October

November 2009

Between January and October, the country received $2.86 billion in remittances, 10% less than the $3.18 billion received in the same period of 2008.

On the bright side, the percentage drop was lower in October than in September, according to data from the Central Bank of El Salvador (BCR).

Remittances to El Salvador Decrease by 13.6%

May 2009

In April, received remittances totaled $292.5 million, compared to $338.5 million during the same period last year

In the first quarter of this year, received remittances were 9.2% lower than during the first quarter in 2008.

Keny López wrote in Laprensagrafica.com: "So far this year, there have been four other decreases: -8.4% in January, -7.8% in February, -6.7% in March and -13.6 % in April.

Remittances to El Salvador on the decline

November 2008

The total remittances during October was $304.3 million or $400,000 less than the previous month.

It is almost $20 million less than for the same month in 2007, when $323.8 million was sent...

The figure for October confirms the fears of slowdown that analysts have been announcing in the last few months.