In the first half of 2016 the country received $3.512 billion in remittances, almost 20% more than in the same period in 2015.
The figure achieved in the first six months of the year contrasts with the same period in 2015, when Guatemalans living abroad sent $2,955 million back to their country.
Elperiodico.com.gt reports that "...For the fourth consecutive month income from family remittances exceeded $600 million.
On January 4 technical standards will come into effect which must be observed by the companies dedicated to sending and receiving money.
From a statement issued by the Central Bank of El Salvador:
The Standards Committee of Central Reserve Bank has approved the Technical Regulations for the Registry,Obligations and Operation of Bodies which Send or Receive Money" in Session No.
Western Union Panama and the pawn and loans company Más Me Dan have joined their distribution networks in order to capitalize on the growing market for sending and receiving money.
In the first half of the year alone $223 million was sent to Panama in remittances, while $395 million was sent out, to destinations such as Colombia, China and the United States, the three main recipients, followed by Nicaragua, Mexico and Costa Rica.
With recent increases in the arrival of workers from other countries there was an increase in remittances sent abroad, which in 2014 totaled $ 812 million.
The remittance business is growing in Latin America, driven by international labor mobility which is now growing rapidly, following the impasse of the financial crisis of 2008.
According to Katiuska Hernandez in her article on Martesfinanciero.com, "...
The Superintendent of the Financial System has started monitoring the operations of companies that send and receive remittances.
With the law reform passed by the Assembly, legal persons performing operations to systematically send or receive money or substantial amounts, by any means, at national and international level, will be supervised by the Superintendency of the Financial System.
Revenues from remittances sent by Nicaraguans living abroad during 2014, amounted to $1,135 million, 5.3% more than in 2013.
According to the Central Bank of Nicaragua (BCN) during the month of December more remittances were received than during the rest of the year, reporting a total of $116.6 million. This exceeds the amount recorded in the same month of 2013, when $111 million came into the country.
In 2014 the country received $4.217 billion in remittances, $263.6 million more than in 2013 and for the first time surpassed the $4 billion mark.
From a statement issued by the Central Reserve Bank of El Salvador (BCR):
In 2014, El Salvador received $4.2172 billion in remittances, an increase of 6.7% compared to the previous year, equivalent to $263.6 million more than in 2013, thereby exceeding for the first time the $4 billion mark in remittances, said the Central Reserve Bank of El Salvador.
During 2014 the country received $3.44 billion in remittances, 11.2% more than what was received during the previous year.
At the end of 2014, the Central Bank of Honduras reported income of $3.44 million in remittances, which exceeds the $3.2 billion projected by the Honduran government.
Laprensahn reports that "... When compared with amounts recorded in December 2013, which totaled $3.093 billion, an increase of $347.2 million can be observed.
In 2014 $5.544 billion came into the country in remittances, 8.6% more than the $5.105 billion received during the previous year.
The improvement in the US economy, the main destination of Guatemalan migrants, is one of the reasons behind the increase of 8.6% seen in remittance flows received by the country during 2014.
The Central Bank of Guatemala indicated that July was the month which saw the largest inflow of foreign exchange under this heading, with $509 million.
In the first nine months of the year Hondurans living abroad sent back $2,557 million, up 9.4% on the same period in 2013.
Most of the remittances were from the United States, however, shipments from Canada, Spain, Mexico, Italy and others were also recorded.
Latribuna.hn reports that "... Between January and September remittances were higher by $219.6 million (9.4%) compared to that period last year, when they reached $2.338 million. "
In the first nine months of the year, foreign exchange remittances rose by 9.1%, or $348 million more than in the same period in 2013.
The rate of growth of the amount of money sent by Guatemalans living abroad has shown signs of recovery in recent months, after less rapid growth during the USA's economic crisis, between 2009 and 2012, was recorded.
In the first eight months of 2014 Salvadorans living abroad sent back $2.815 million, 8.1% more than in the same period in 2013.
Remittances remain the main driver of the Salvadoran economy, which in the first 8 months of the year received 8.1% more money than it did in the same period last year.
In August alone the amount sent totalled $350.5 million, according to figures from the Central Reserve Bank (BCR).
Between January and July, the country received $647 million for this purpose, 6.5% more than in the same period in 2013.
Remittances from Nicaraguans living abroad have maintained the upward trend seen in recent months, reaching $647 million in the first seven months of 2014.
"... Shipments totaled from the United States added up to $384.1 million in July, 59.3% of the total ...
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.
Eleconomista.net reports that "...Nearly three million Salvadorans are living abroad, of which about 2.5 million reside in the United States, according to official estimates. "
Between July 2013 and the same month this year remittance flows received by the country increased by $289 million, reaching $3.213 million.
Remittances from Guatemalans residing abroad are still increasing, especially since the economic situation in the United States began to recover.
According to the Bank of Guatemala (Banguat), "... these shipments, up until July stood at $3.2136 billion (about Q25,066 million), while at the same time last year $2.924,2 million (about Q22,808,000,000) was reported, ie, $289.4 million (Q2,257 million) more came into the country.