El Salvador receives $3.8 billion in remittances

©image: David Boyle

Elsalvador.com reports: "Salvadorans who reside abroad sent $3.78 billion to their families at home in 2008, an increase of 2.5%, the Central Reserve Bank (BCR) reported on Tuesday.

The bank said that "the remittances by family members continued to be positive despite the global economic condition, particularly in the United States.

Source: elsalvador.com

More on this topic

Remittances for $13.06 billion to Central America in 2011

March 2012

By country: Guatemala $4.37 billion; El Salvador $3.65 billion; Honduras $2.86 billion; Nicaragua $1.05 billion; Panama $592 millions; Costa Rica $530 millions.

Inter-American Development Bank Report:

Remittances to Latin America and the Caribbean rose to $61 billion in 2011

Remittances to Guatemala grow by 8.69 percent

July 2008

Despite the worldwide economic slowdown, remittances to families in Guatemala from members who live abroad have grown by 8.69 percent for the January-June period this year.

However, the rate of growth is down a bit from last year, when remittances increased by 12.64 percent year-over-year.

Remittances to Honduras increased 7.3% in 2008

January 2009

Remittances sent to Honduras totaled $2.7 million, according to the Central Bank of Honduras (BCH).

Proceso Digital reports on its website: "Despite the increase, it was less in 2007-2008 than in 2006-2007, when it was 11.6%, it was said.

Honduran economic authorities had forecast the drop in the growth rate for remittances due to the unemployment that is affecting more and more Hondurans due to the crisis in the United States.

El Salvador Receives $267 million in Remittances in January

February 2012

Remittances received in January 2012, amounted to $267.3 million, surpassing the $18.1 million sent over in in January 2011 and showing a growth of 7.3% annually compared to the same month last year.

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

Remittances received from Salvadorans living abroad in January 2012 amounted to $267.3 million, exceeding the $18.1 million as admitted in January 2011 and showing a growth of 7.3% annually compared to the same month last year, reported the Management for Studies and Economic Statistics of the Central Reserve Bank of El Salvador.