El Salvador: Remittances Increase 5% in 2019

Last year the country received $5.65 billion in family remittances, which is 5% more than the amount reported in 2018.

Wednesday, January 15, 2020

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 the BCR report:

During 2019, El Salvador received US$5,650.2 million in family remittances, with a 4.8% growth equivalent to US$259.4 million more than last year, informed the Central Reserve Bank. Most of the remittances came from the United States, which in 2018 hosted 2,306,774 people of Salvadoran origin according to the United States Census Bureau.

According to statistics, 21.2 million family remittance operations were registered in the financial system during the year. In December alone, US$550.9 million came from international remittances, making it the month in which the largest amount was received under this concept.

The Center for Latin American Monetary Studies (CEMLA) estimates that Latin America and the Caribbean will receive between US$93 and US$94 billion in 2019, under the concept of family remittances. Compared to that figure, El Salvador received 6% of the region's remittances that year

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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: Remittances Increased 6% up to March 2019

April 2019

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).

El Salvador: Remittances Up 9%

May 2018

As of April, family remittances so far this year totaled $1.730 billion, registering a 9% increase compared to the same period of the previous year.

From a report by the Central Bank of Honduras:

El Salvador received US $1.729.6 billion in family remittances as of April 2018, with a growth of 9.2% and exceeding by US $145.7 million the income received under this concept in the same period of the previous year, the Central Reserve Bank reported. 

El Salvador: Remittances Keep Growing in 2018

March 2018

During the first two months of the year, the country received $778 million in family remittances, which is equivalent to an increase of 7.2% with respect to the amount registered in the same period in 2017.

The Central Reserve Bank of El Salvador (BCR) reported that " ...in the month of February alone, US $397.8 million was received in remittances, which represents growth of 4.4% over the same month in the previous year."

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