El Salvador: Remittances Up 11%

In the first half of the year, $2,454 million was sent in family remittances, 11% more than in the same period in 2016.

Wednesday, July 19, 2017

From a statement issued by the Central Reserve Bank:

Revenues from family remittances amounted to US $2,454.2 million in the first half of 2017, a 10.5% increase and exceeded the amount of remittances received in the same period of the previous year by US $233.1 million, the Central Reserve Bank reported. 

In June alone, US $413.2 million was sent in remittances, US $33.5 million (8.8% more) than in the same month in 2016. El Salvador received remittances from 138 countries worldwide, the United States, Canada and the European Union being the most noteworthy, according to statistics. The United States stands out as the main source of remittances received by Salvadorans, accounting for 97% of total flows under this category.  Central Bank data indicates that the five departments with the largest remittance receipts in the first half of 2017 were: San Salvador (22.6%), San Miguel (12.3%), La Union (9.3%), Santa Ana, and La Libertad (8%).

Regarding the average amounts per operation, Chalatenango, with $339.80, had the highest value, while San Salvador with $218.90 had the lowest average per operation.



More on this topic

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 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 9% in I Semester

July 2018

Between January and June 2018, family remittance flows sent from abroad totaled almost $2.7 billion, registering a 9% increase compared to the same period in the previous year.

El Salvador received US $2.6886 billion in family remittances up to June 2018, surpassing the US $229.2 million sent by Salvadorans living abroad in the first half of last year. In June alone, US $461 million was received in remittances, which means an increase of 11.2% compared to the same month in the previous year, reported the Central Reserve Bank (BCR).

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."