El Salvador: Remittances Grow 5% up to October 2019

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.

Friday, November 15, 2019

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.

From the BCR statement:

Family remittances reached US$4,641.7 million until October 2019, with a 4.5% year-on-year growth rate, equivalent to an additional US$200.7 million over the previous year, informed the Central Reserve Bank.

During October the country received US$482.6 million in family remittances, more than the US$458 million received in the same month in 2018. In addition, 1.8 million operations were recorded in the financial system under this same concept.

The average monetary remittance was US$265.10 in October 2019, similar to the previous year when it was US$264.60. The department with the highest average remittance was Chalatenango with US$328.30, because there are fewer means of payment for collection in said zone of the country; meanwhile, in the department of San Salvador, the average remittance was of US$233.10.

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More on this topic

El Salvador: Remittances Exceed $5 Billion

December 2019

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.

El Salvador: $4.159 Million in Remittances up to September

October 2019

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.

El Salvador: Remittances Increase 9%

November 2018

In the first ten months of the year, the country received $4.504 million in family remittances, 9% more than what was reported in the same period of 2017.

From the statement of the Central Reserve Bank:

El Salvador received US$4.504.2 million in family remittances up to October 2018 with a growth of 9.1%, exceeding by US$375.3 million the income received under this concept in the same period of the previous year, informed the Central Reserve Bank. According to the CRB, only in October, US$464.9 million in remittances were received, contributing to the economy through the greater purchasing power of households that positively affects their consumption.

El Salvador: Remittances Up at Start of the Year

February 2018

In January 2018 remittances received by the country amounted to $381 million, 10% more than in the same month in 2017.

From a statement issued by the Central Bank of El Salvador:

In January 2018, US $380.6 million was received in the form of family remittances, growing by 10.3% and exceeding the income received under this concept in the same period of the previous year by US $35.6 million, reported the Central Reserve Bank. 

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