Remittances continue positive trend, up 6.08% in May

- Tuesday, June 14, 2011

Remittances continue positive trend, up 6.08% in May

Remittances to El Salvador maintained the positive trend seen this year and increased 6.08% year-on-year in May, as well as showing solid growth in the year to end-May, according to the latest figures from central bank BCR.

Salvadorians living abroad sent home US$339mn in May, compared to US$319mn in the same month in 2010, the highest monthly figure so far this year. Remittances also expanded 9.51% from April.

Overall for the first five months of the year, remittances grew 4.83% to US$1.51bn, BCR figures show.

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