El Salvador: Remittances Up 5% up to February 2019

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.

Monday, March 18, 2019

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).

From the BCR statement:

Family remittances from El Salvador totaled US$805.5 million in February 2019 and grew 4% (US$30.9 million more) over the same period last year, according to the Central Reserve Bank.

Family remittance operations, excluding surcharges, grew 5.2% up to February of this year. Only in February, US$404.9 million were raised, equivalent to 1.8 million remittance operations, including mobile top-ups.

El Salvador received family remittances from 119 countries, mainly from the United States with US$763.4 million (94.8% of the total) and Canada with US$7.3 million (0.9%). The flow of remittances to the country from the Central American region and the European Union was of US$2.7 (0.3%) and US$8.8 million (1.1%), respectively.

Read full statement (In Spanish).

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More on this topic

El Salvador: Remittances Grow 9% up to February

March 2020

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.

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).

Remittances to El Salvador Up 8% in 2018

January 2019

In accordance with the behavior that has been reported in recent years, in 2018 the country received $5,469 million in family remittances, 8% more than that recorded in 2017.

The report of the Central Reserve Bank (BCR) explains that last year the five main departments receiving family remittances were: San Salvador (19.6% of the total country), San Miguel (11.7%), La Unión (8.2%), Santa Ana (7.9%) and La Libertad (7.7%).

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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