El Salvador: Remittances Up 12%

In the first quarter of the year, family remittance revenues totaled $1,175 million, up $130 million and 12% compared to the same period in 2016.

From a report by the Central Bank:

Revenues from family remittances reached US $1,175.3 million in the first quarter of 2017 and exceeded by US $130.1 million the revenues received in the same period in the previous year, with a growth rate of 12.4%, making it the highest rate of growth achieved in the last eleven years, informed the Central Reserve Bank. 

The institution reported that during the first quarter of the year a total of 5.4 million transactions were made, of which 1.1 million correspond to recharges for cell phones of residents in the country made by people residing abroad.  

Source: CentralBankofElSalvador