Remittances to El Salvador and Nicaragua in 2018

El Economista (17 December 2018) reports that remittances received in El Salvador between January and November 2018 increased by 8.7% in comparison with the same period in 2017, and amounted to more than US$4,900 million [US dollars], according to the Central Reserve Bank (BCR).

In these ten months the country received remittances from 160 countries, at the head of which was the US with US$4,602.4 million, followed by the European Union and Canada with US$46.8 million and US$43.8 million respectively.

The 2.8 million Salvadorans who live in the United States sent a major part of the US$5,021.3 million in remittances which El Salvador received in 2017, this being the highest figure in history for the Central American country.


Informe Pastrán (21 December 2018) reports that remittances received in Nicaragua during the third quarter of 2018 rose to US$372.8 million, an increase of 4.8 per cent compared with the same period in the previous year. Remittances up to and including the month of September 2018 amounted to US$1,097.4 million, a 7.6 per cent increase on the same period during 2017.

During the third quarter of 2018, the major origins of these remittances were the United States (55.4%), Costa Rica (19.4%), Spain (11.5%) and Panamá (5.3%).

The department of Managua continued to be the major recipient of the remittances (35.0%), with the department of Chinandega receiving 10.3%, León 8.2%, Estelí 8.0% and Matagalpa 7.0%.