Guatemala: Remittances Exceed $11 Billion

Although forecasts at the start of the pandemic were pessimistic, during 2020 the country received remittances of $11.34 billion, an amount that is 8% higher than the $10.58 billion recorded in 2019.

Thursday, January 7, 2021

According to the most recent report from the Bank of Guatemala, only in December, remittances amounted to $1.164 billion, 24% more than those reported in the same month in 2019, when the figure was $941 million.

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Between 2014 and 2020 remittance income has almost doubled, rising from $5.544 billion in 2014 to $11.34 billion in 2020.

Income for December this year totaled $1,164 million, an amount that exceeded the average value of remittances received during the months of December of the last five years, since the flow reaches an average of $756 million.

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El Salvador Receives $2.708 million in Remittances

October 2011

From January to September, the country’s remittances were 5.3% more than in the same period in 2010.

In September alone, $286 million came into the country, exceeding the $26 million that came in September 2010.

The largest increase was recorded in the third quarter (July-September), being 7.3% more than in the same period last year.

Remittances to Guatemala Increase by 8.5%

September 2011

In August, total remittances received amounted to $409.5 million, 8.5% higher than in the same month in 2010.

In July remittances reported a decline of 9% compared to the same month in 2010.

According to the Bank of Guatemala, between January and August the total amount of remittances coming into the country was $2.934 million, 6.7% higher than the $2.748 million in the same period of 2010.

Remittances to El Salvador as of March Reach $866 Million

April 2011

Remittances, vital for the country's economy, saw a 4.5% increase, year-on-year in the first quarter of 2011.

On average, in the first quarter of the year the country received $286.6 million in remittances, 0.9% more than the figure recorded in the same period of 2010.

"Remittances are an important source of income for the Salvadoran economy, making up 16.3% of the annual Gross Domestic Product (GDP), equivalent to 76.7% of total export value and covering 40.1% of the value of goods imported," according to Elsalvador.com.

Rise in Salvadoran Wires

October 2010

Between January and September, wires amounted to $ 2,645.3 million, 2.4% higher than the same period of 2009.

According to statistics from the Central Reserve Bank, incomes in the month of September were $ 270.7 million, 0.1% lower than the same month last year.

Elsalvador.com on its website reports, "The average monthly income for the first nine months of this year has been $ 293.9 million, exceeding by $ 6.8 million the same period of 2009."

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