During the first two months of the year, the country received $874 million in family remittances, 8.8% more than in the same period of 2019.
The growth of family remittances shows a higher rate compared to the last two years. Among the factors that positively influence the results are a lower unemployment rate in the United States, the good performance of that economy last year and the growth of personal income.
During January, the country received $425 million in family remittances, 6% more than in the same month in 2019.
Economic growth and employment in the United States are two determining variables in the income of family remittances, since their performance influences the economy of those who send remittances to Salvadoran households. In this sense, economic growth in the fourth quarter of the United States for 2019 was 2.1%, according to an official report.
Last year the country received $5.65 billion in family remittances, which is 5% more than the amount reported in 2018.
In 2019, the central zone of the country received 36.6% of total remittances, equivalent to $2,069.7 million, followed by the eastern zone with 32.1%, or $1,811 million. The western zone totaled $946.7 million (16.8% of the total) and the paracentral zone received $680.7 million, equivalent to 12% of total remittances, reported the Central Reserve Bank (BCR).
From January to November 2019, the country received $5.099 million in remittances, 5% higher than reported in the same period of 2018.
In November, the country received $458 million in family remittances, more than the $424 million that came in the same month in 2018. In addition, 1.7 million transactions were recorded in the financial system under this concept, reported the BCR.
In the first ten months of the year, the country received $4.642 million in remittances, 5% more than in the same period of 2018.
During October the country received $482.6 million in family remittances, more than the $458 million received in the same month in 2018. In addition, 1.8 million operations in the financial system were registered under this same concept, according to an official report.
In the first nine months of this year, the country received $4.159 million in remittances, surpassing in 4% what was reported in the same period of 2018.
During September the country recorded $459 million in remittances, more than the $429.3 million received in the same month in 2018. In addition, the Central Reserve Bank (BCR) reported that 1.7 million remittance transactions were recorded in the financial system.
In the first eight months of this year, the country received $3.7 billion in remittances, 4% more than in the same period in 2018.
Family remittances received by El Salvador from January to August 2019 reached $3.7 billion with a 4.1% growth, equivalent to an additional $146.5 million over the same period last year, according to the Central Reserve Bank.
In the first seven months of this year, the country received $3.229 million in remittances, surpassing in 4% what was reported in the same period of 2018.
The country's central zone captured 36.2% of total remittances, equivalent to $1,168.4 million, followed by the eastern zone with 32.5%, or $1,049.7 million, while the western zone totaled $539.3 million this represents 16.7% and the central zone received $391.1 million equivalent to 12.1% of the total, reported the Central Reserve Bank.
Guatemala's business sector responded with concern to President Trump's warning about imposing export tariffs and levies on remittances and transfers.
The announcement made by the president of the United States comes after the Guatemalan Constitutional Court issued a ruling in which it limits its foreign policy functions to the Executive, by granting a provisional injunction that prevents the negotiation or signing of any agreement.
From January to June of this year, El Salvador received $2.744 million in remittances, 4% more than in the same period of 2018.
According to data from the Central Reserve Bank (BCR), the central zone captured the largest amount of family remittances with $989.8 million, equivalent to 36.1% of the total, followed by the eastern zone with $896 million, which constitutes 32.7% of total remittances, the institution reported.
During the first five months of the year, the country received $2.281 million in remittances, 4% more than reported in the same period of 2018, well below the 9% rate reported from January to May 2018.
El Salvador received $2.281 million in family remittances up to May 2019, higher by $84.4 million, equivalent to a 3.8% year-on-year growth with respect to income received under this concept in the same period of the previous year, informed the Central Reserve Bank.
During the first four months of the year, family remittances received by the country totaled $1.776 million, 4% more than reported in the same period of 2018.
Family remittances from El Salvador totaled $1.776 million in the first four months of 2019, $66.1 million more than the income received under this concept in the same period of the previous year, informed the Central Reserve Bank.
During the first quarter of the year, family remittances sent to the country totaled $1.298 million, 6% more than what was reported in the same period of 2018.
Family remittances from El Salvador totaled $1,297.7 million in the first quarter of 2019, presenting a 5.9% growth, $72.5 million higher than the income received under this concept in the same period of the previous year, informed the Central Reserve Bank (BCR).
During the first two months of the year, family remittances sent to the country totaled $806 million, 5% more than what was reported for the same period in 2018.
Only in February, $404.9 million were raised, equivalent to 1.8 million remittance operations, including mobile phone top-ups, informed the Central Reserve Bank (BCR).
During 2018, family remittances to Central American countries and the Dominican Republic totaled $28.670 million, of which $9.288 million went to Guatemala.
In 2018, family remittances to Central America and the Dominican Republic (CARD) grew 11%, showing a slight slowdown with respect to what was observed in 2017 (12.0%). This slight slowdown was observed in all countries except Honduras, explained the Economic Commission for Latin America (ECLAC).