El Salvador: Record Remittances in 2016

Total remittances received during the year reached $4,576 million, 7% more than the remittances recorded in 2015.
Income from remittances totaled US $4.576 billion in 2016, exceeding by US $306 million the total amount of remittances received in the previous year, with a growth rate of 7.2% year on year. The amount accumulated between January and December 2016 is the highest amount in the history of received remittances in El Salvador and the highest growth in the last ten years.
 
Rates of change in remittances accelerated considerably in the last quarter of 2016, going from 7.3% growth in October, to rates of 11 and 11.9% in the last two months of the year.
 
Remittances received during December totaled US $473.2 million, which was driven by remittances for the Christmas and New Year season. 

Source: Central Bank of El Salvador