Remittances to El Salvador maintained the positive trend seen this year and increased 5.09% year-on-year in July, as well as showing solid growth in this year to end-July, according to the latest figures from central bank BCR.
Salvadorians living abroad sent home US$301mn in July, compared to US$287mn in the same month in 2010, beating the brief year-on-year slowdown recorded the previous month. Remittances also expanded 0.50% from June.
BCR said improvements in the US labor market for the Latino population drove the remittances' expansion in July.
Overall for the first seven months of the year, remittances grew 4.45% to US$2.11bn, BCR figures show.