Remittances to El Salvador Total $2.1 Billion to July

Remittances received between January and July this year recorded a 2.5% increase year-on-year relative to the same period in 2009.

Tuesday, August 17, 2010

According to information from El Salvador's central bank (BCR), in the month of July alone $6.7 million more was remitted than in the same month of 2009.

The central bank's Economic Research and Statistics department explained that, "the recovery of remittances has been constrained by the high level of unemployment in the USA, which was 9.5% in July for the population as a whole and 12.1% among Hispanics, still well above the levels seen before the financial crisis began," reports

More on this topic

Remittances to El Salvador Up 3.5%

September 2013

During the month of August remittances to El Salvador totaled $326.6 million, $11.2 million more than in the same period in 2012.

From a press release issued by the Central Reserve Bank of El Salvador:

Remittances from Salvadorans living abroad during the month of August 2013, totaled $326.6 million, up by $11.2 million and recording a growth rate of 3.5% compared to the same month last year, reported the department of Studies and Economic Statistics at the Central Reserve Bank.

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 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

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. 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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