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. $181.3 million in transactions during the same period last year, according to reports from the Management of Economic Studies and Statistics at the Central Reserve Bank of El Salvador.
During the month of November alone U.S. $277.8 million came into the country in remittances, exceeding the U.S. $15.1 million in transactions in the same month last year, the source added.
The average monthly remittances entering the country this year was U.S. $298.7 million, higher than the average recorded in 2010, which was U.S. $258.4 million. On average, $40.3 million more has been received every month than in the first eleven months of 2010, said the manager.
Source: Central Reserve Bank of El Salvador
More on this topic
October 2011
From January to September, the country’s remittances were 5.3% more than in the same period in 2010.
In September alone, $286 million came into the country, exceeding the $26 million that came in September 2010.
The largest increase was recorded in the third quarter (July-September), being 7.3% more than in the same period last year.
April 2011
Remittances, vital for the country's economy, saw a 4.5% increase, year-on-year in the first quarter of 2011.
On average, in the first quarter of the year the country received $286.6 million in remittances, 0.9% more than the figure recorded in the same period of 2010.
"Remittances are an important source of income for the Salvadoran economy, making up 16.3% of the annual Gross Domestic Product (GDP), equivalent to 76.7% of total export value and covering 40.1% of the value of goods imported," according to Elsalvador.com.
September 2011
In August, total remittances received amounted to $409.5 million, 8.5% higher than in the same month in 2010.
In July remittances reported a decline of 9% compared to the same month in 2010.
According to the Bank of Guatemala, between January and August the total amount of remittances coming into the country was $2.934 million, 6.7% higher than the $2.748 million in the same period of 2010.
January 2012
A report has been released showing the leading economic indicators, focusing on December 2011.
Development Foundation of Guatemala FUNDESA
Inflation
The Consumer Price Index (CPI) showed an annual variation of 6.20% in December 2011, 0.81 percentage points higher than in the previous year (5.39%).
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