Remittances continue to show solid growth, up 10.8% in May

Thursday, June 30, 2011

Remittances to Nicaragua continue to show robust growth, expanding 10.8% in May compared to the same month in 2010, the second month in a row with double-digit growth, following a brief slowdown in March, according to the latest figures from central bank BCN.

Nicaraguans abroad sent home US$77.8mn during the month, compared to US$70.2mn in May 2010. Remittances also expanded on a monthly comparison, up 5.99% from April.

Overall for the first five months of the year, remittances to Nicaragua were up 8.81% to US$365mn, BCN figures show.

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