Remittances Grow by 9% in First Quarter

Salvadorans living abroad sent home $1,278.3 million between January and April 2012, $104.9 million more than in the same period last year.

Wednesday, May 16, 2012

These figures represent an increase of 8.9%, according to Banco Central de Reserva (BCR).

According to the BCR, monthly average remittances for the period January-April this year amounted to $319.6 million, "exceeding by 26.2 million per month the 293.4 million received during the first four months of the previous year," reported Laprensagrafica.com.

More on this topic

El Salvador Receives $3,286 million in Remittances

December 2011

Between January and November 2011 the country received $181.3 million more than in the same period in 2010.

A press release from the Central Reserve Bank of El Salvador (BCR) reads:

Salvadorans living abroad sent home remittances totaling U.S. $3,286.1 million accumulated between January and November 2011, more than the U.S.

Salvadoran Remittances Up 4%

December 2010

Until November the amount of remittances received totaled $ 273.2 million, 4% above the same period of 2009.

According to the Reserve Bank the monthly average received this year was $ 290.6 million, up from $ 184.4 million of the monthly average of 2009.

"As reported by the BCR, the situation of remittances in Latin America has generally improved this year, compared with the balance of 2009", reported Laprensagrafica.com.

El Salvador: Largest Increase in Remittances in 35 Months

February 2011

January foreign wires reported a 9.9% growth compared to same month in 2010.

Salvadoran families received remittances worth a total of $ 259.3 million during the month of January of this year, reported the Central Bank of El Salvador.

Remittances showed an increase of 9.9%, equivalent to $ 23.3 million, compared to January 2010, with the highest growth seen in the last 35 months.

Rise in Salvadoran Wires

October 2010

Between January and September, wires amounted to $ 2,645.3 million, 2.4% higher than the same period of 2009.

According to statistics from the Central Reserve Bank, incomes in the month of September were $ 270.7 million, 0.1% lower than the same month last year.

Elsalvador.com on its website reports, "The average monthly income for the first nine months of this year has been $ 293.9 million, exceeding by $ 6.8 million the same period of 2009."

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