Remittances record 5.8% increase in January-November

Friday, December 16, 2011

Remittances to El Salvador amounted to US$3.29bn in January-November, a 5.8% increase compared to the year-ago period, according to a release from the country's central bank.

In November alone, US$278mn in remittances were sent to El Salvador, corresponding to a US$15.1mn increase on the same month in 2010, the release said.

But the November figure represents a slight decrease compared to the previous month, when US$299mn was sent home from abroad.

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El Salvador's central bank also reported October 2011 figures for neighboring countries, saying that total remittances for the month had increased 7.3% in Mexico, 5.9% in Colombia and 10.6% in Nicaragua.