During 2018, family remittances to Central American countries and the Dominican Republic totaled $28.670 million, of which $9.288 million went to Guatemala.
In 2018, family remittances to Central America and the Dominican Republic (CARD) grew 11%, showing a slight slowdown with respect to what was observed in 2017 (12.0%). This slight slowdown was observed in all countries except Honduras, explained the Economic Commission for Latin America (ECLAC).
The amount of remittances from one Central American country to another now reaches $1 billion.
Revistamyt.com reports: "The money transfer company AirPak, representative of Western Union (WU) in Central America, has announced the start of a strategy that aims to compete in the market of remittances sent by internal migrants in the isthmus."
According to Carlos De Paredes, manager of the company in Guatemala, the local market is worth around $300 million and about $1 billion at the regional level. The firm has no presence in Panama.
By country: Guatemala $4.37 billion; El Salvador $3.65 billion; Honduras $2.86 billion; Nicaragua $1.05 billion; Panama $592 millions; Costa Rica $530 millions.
Inter-American Development Bank Report:
Remittances to Latin America and the Caribbean rose to $61 billion in 2011
MIF’s annual analysis of migrants’ money transfers shows year-on-year growth of 6%
The recovery in the amount of money sent to their countries of origin by Central American emigrants remains strong.
In the first quarter, in Nicaragua, remittances totaled $ 287.5 million, 8.2% higher than in same period in 2010.
Monetary transfers to Guatemala (the largest recipient in Central America), totalled $1,758.7 million in the first five months of 2011. An increase of 10.4% compared to the same period in 2010.
In the first two months of 2011, Nicaragua received $137 million in remittances from abroad, 10% more than in the same months of 2010.
All of Central America and Mexico has seen a recovery in remittances according to a report from the Inter-American Development Bank (IDB), which states that money flows increased by between 6 and 16% in the first two months of this year.
Slow recovery tied to a lagging U.S. economy, 3% growth in 2010 due to increased domestic consumption and rising remittances and international trade.
The countries in Central America are recovering gradually, led by a rebound indomestic demand (following its sharpcontraction in 2009), which has partly spilled over into imports. Pickups in exports and morerecently remittances have been further positive developments.