Wednesday, 22 February 2023 13:06

El Salvador received US$588 million in remittances in january 2023

Written by Evelyn Alas

According to the Banco Central de Reserva (BCR), in january 2023, El Salvador received US$588 million in family remittances, showing a growth of 6.4% compared to the same period last year.

In total, there were 1.8 million transactions in family remittances during this period, increasing 5.6%, equivalent to more than 97 thousand additional transactions compared to january 2022.

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In the first month of 2023, remittances received through the banks of the financial system totaled US$213 million, representing 36% of the total, and positioning banks as the remittance capture channel with the highest growth (13%).

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Family remittances from the United States totaled US$555 million, showing a growth of 6.9% and an average value of US$322.

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89% of the country's municipalities registered positive growth in the receipt of family remittances, with Arambala (57.3%), Las Vueltas (54%) and Perquín (49.6%) standing out.

 

Translated by: A.M