Remittances to El Salvador Drop 10.3%
In the first half of the year, $1.7 billion were sent to the country by Salvadorans abroad, 10.3% less than the same period of 2008.
Tuesday, July 14, 2009
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).
The total remittances during October was $304.3 million or $400,000 less than the previous month.
In April, received remittances totaled $292.5 million, compared to $338.5 million during the same period last year
After 16 months of continuous growth, remittances in July were down 9% compared to the same period in 2010.
During January, remittances totaled $252.4 million, 8.4% less than for the same period in 2008, when they were $275.5 million.
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