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%).
Consistent with the bullish behavior of the last months, from January to November the country received $4.935 million in family remittances, 9% more than what was reported in the same period of 2017.
From the statement of the Central Reserve Bank:
El Salvador received US$4,934.5 million in family remittances up to November 2018 and increased 8.8%, surpassing by US$397.3 million the income received under this concept in the same period of the previous year; only in November US$430.2 million in family remittances were received, informed the Central Reserve Bank.
In the first ten months of the year, the country received $4.504 million in family remittances, 9% more than what was reported in the same period of 2017.
From the statement of the Central Reserve Bank:
El Salvador received US$4.504.2 million in family remittances up to October 2018 with a growth of 9.1%, exceeding by US$375.3 million the income received under this concept in the same period of the previous year, informed the Central Reserve Bank. According to the CRB, only in October, US$464.9 million in remittances were received, contributing to the economy through the greater purchasing power of households that positively affects their consumption.
During the first nine months of the year, the country received $4.039 million in family remittances, 9% more than in the same period of 2017.
From the statement of the Central Reserve Bank:
El Salvador received US$4,039.4 million in family remittances up to September 2018 with a growth of 9.2%, which exceeded by US$340.6 million the income received under this concept in the same period of the previous year, informed the Central Reserve Bank (BCR).
Between January and June 2018, family remittance flows sent from abroad totaled almost $2.7 billion, registering a 9% increase compared to the same period in the previous year.
El Salvador received US $2.6886 billion in family remittances up to June 2018, surpassing the US $229.2 million sent by Salvadorans living abroad in the first half of last year.In June alone, US $461 million was received in remittances, which means an increase of 11.2% compared to the same month in the previous year, reported the Central Reserve Bank (BCR).
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 the third month of the year, family remittances totaled $62 million, registering an increase of 5.3% with respect to the same period in the previous year.
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 half of the year, $2,454 million was sent in family remittances, 11% more than in the same period in 2016.
From a statement issued by the Central Reserve Bank:
Revenues from family remittances amounted to US $2,454.2 million in the first half of 2017, a 10.5% increase and exceeded the amount of remittances received in the same period of the previous year by US $233.1 million, the Central Reserve Bank reported.
An increase of 2.3% has been reported in economic activity in the first quarter, driven by private consumption, which is supported by stability in remittance income.
Remittances remain the main driver of the Salvadoran economy, which with a high fiscal deficit managed to grow only 2.3% in the first three months of the year compared to the same period in 2014.
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