Remittances to El Salvador Up 4.2%

During the month of September, the country received $315.4 million in remittances, $12.7 million more than in the same period in 2012.

Friday, October 18, 2013

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

Salvador
ans living abroad sent remittances worth $2.9317 billion in the period between January and September 2013, an increase of $38.4 million, equivalent to a growth rate of 1.3% annually.

The monthly average remittances received during this period was $325.7 million, or $4.3 million more than the average for the same period in 2012.

In the month of September 2013 alone remittance income totaled $315.4 million, which is $12.7 million more than in September last year, equivalent to an increase of 4.2%. These shipments were made in a total of 1,234,766 operations.

Salvadorans currently receiving remittances have more options for making these types of payments, as they can use banks, credit unions federations, telephone companies, supermarkets, trustees, and other options, causing the market to be increasingly competitive.



More on this topic

El Salvador: Remittances Begin 2020 with 6% Increase

February 2020

During January, the country received $425 million in family remittances, 6% more than in the same month in 2019.

Economic growth and employment in the United States are two determining variables in the income of family remittances, since their performance influences the economy of those who send remittances to Salvadoran households.

El Salvador: Remittances Increased 4% up to April 2019

May 2019

During the first four months of the year, family remittances received by the country totaled $1.776 million, 4% more than reported in the same period of 2018.

Family remittances from El Salvador totaled $1.776 million in the first four months of 2019, $66.1 million more than the income received under this concept in the same period of the previous year, informed the Central Reserve Bank.

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.

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.