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.
During the month of August remittances to El Salvador totaled $326.6 million, $11.2 million more than in the same period in 2012.
From a press release issued by the Central Reserve Bank of El Salvador:
Remittances from Salvadorans living abroad during the month of August 2013, totaled $326.6 million, up by $11.2 million and recording a growth rate of 3.5% compared to the same month last year, reported the department of Studies and Economic Statistics at the Central Reserve Bank.