El Salvador: Remittances Total $3.7 Billion

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.

Friday, September 13, 2019

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.

The report states that "... During August, US$471.6 million were received in remittances, an amount that exceeds the US$445.1 million received in August 2018. Likewise, 1.75 million operations in the financial system were reported for the collection of remittances.

The average monetary remittance was US$266.4 up to August 2019, very similar to the previous year when US$266.9 was received. The average remittance is higher than US$350 for 36 municipalities, located mainly in the northern zone of El Salvador, among them, 21 municipalities in the department of Chalatenango.

The central zone of the country captured 36.3% of total remittances, equivalent to US$1,342.7 million, followed by the eastern zone with 32.4%, or US$1,198.3 million. Meanwhile, the western zone totaled US$618.6 million (16.7%) and the paracentral zone received US$448.1 million equivalent to 12.1% of the total.

The department of San Salvador had the highest growth rate in remittance reception with 6.3%, while La Paz and Cuscatlán ranked second and third with 5.6% and 5.5%, respectively. Meanwhile, the departments of Chalatenango and Cabañas presented the lowest but positive growth rates with 2.4% and 1.8%, respectively.
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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.

Remittances in El Salvador: Figures up to July 2019

August 2019

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.

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).

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