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.
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%).
Between January and May, family remittances received by the country totaled $2.228 billion, registering an increase of 8.9% compared to the same period in the previous year.
The Central Reserve Bank reported that "... El Salvador received US $2.2276 billion in family remittances up to May 2018, an additional US $182.9 million (8.9% more) than the income received under this concept in the same period in the previous year, reported the Central Reserve Bank.In the month of May alone, the country received US $ 493.7 million, with a year-on-year growth of 7.1%."
As of April, family remittances so far this year totaled $1.730 billion, registering a 9% increase compared to the same period of the previous year.
From a report by the Central Bank of Honduras:
El Salvador received US $1.729.6 billion in family remittances as of April 2018, with a growth of 9.2% and exceeding by US $145.7 million the income received under this concept in the same period of the previous year, the Central Reserve Bank reported.
In 2017, family remittances received from abroad totaled $5,021 million, 10% more than in 2016.
Revenue from remittances in 2017 exceeded the amount received in 2016 by $445 million.The positive result is related to the good performance of the US economy.
In the first seven months of the year Salvadorans living abroad sent home $2.467 million, 8% more than in the same period in 2013.
Data from the Central Reserve Bank of El Salvador (BCR) shows that remittances received in July alone amounted to $359.6 million, about $28 million more than in the same month in 2013.
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."
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