Remittances to El Salvador on the decline
Tuesday, November 18, 2008
The total remittances during October was $304.3 million or $400,000 less than the previous month.
It is almost $20 million less than for the same month in 2007, when $323.8 million was sent...

The figure for October confirms the fears of slowdown that analysts have been announcing in the last few months. As a consequence of the crisis experienced in the United States, which has the most Salvadoran immigrants, employment has been reduced, particularly in sectors such as construction, which is traditionally the main source of work for Salvadorans abroad.
Source:elsalvador.com
Source:elsalvador.com
More on this topic
Remittances to Guatemala fell by 9% in July
August 2011
After 16 months of continuous growth, remittances in July were down 9% compared to the same period in 2010.
According to the Bank of Guatemala (Banguat), remittances received in July totaled $349.8 million, 9% less than the $384.6 million received in the same month in 2010.
Remittances to El Salvador Drop 10.3%
July 2009
In the first half of the year, $1.7 billion were sent to the country by Salvadorans abroad, 10.3% less than the same period of 2008.
Remittances averaged $290 million each month during this semester, whereas the average was $323.1 during the first half of 2008, according to data from the Reserve Bank (BCR).
Remittances to El Salvador Decrease by 13.6%
May 2009
In April, received remittances totaled $292.5 million, compared to $338.5 million during the same period last year
In the first quarter of this year, received remittances were 9.2% lower than during the first quarter in 2008.
Remittances to El Salvador Drop by 8.4%
March 2009
During January, remittances totaled $252.4 million, 8.4% less than for the same period in 2008, when they were $275.5 million.
La Prensa Libre published on its website: "For now, neither the economic cabinet nor the Central Reserve Bank have spoken about the reasons for the decline, even though a similar situation occurred during four months last year, and it was blamed on the economic crisis in the United States which is considered the source of 90% of these remittances."
Key entities
Central Reserve Bank of El Salvador
Countries
El Salvador United States of América
Insight
Economics
RELACIONADO
Central Reserve Bank of El Salvador
Economics
Remittances
remittance decline
Banking
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