{"id":4765,"date":"2024-03-20T13:45:00","date_gmt":"2024-03-20T13:45:00","guid":{"rendered":"https:\/\/latamreports.com\/br\/?p=4765"},"modified":"2024-03-20T17:33:28","modified_gmt":"2024-03-20T17:33:28","slug":"el-salvador-receives-15-of-remittances-to-central-america","status":"publish","type":"post","link":"https:\/\/latamreports.com\/br\/el-salvador-receives-15-of-remittances-to-central-america\/","title":{"rendered":"El Salvador receives 15% of remittances to Central America"},"content":{"rendered":"\n<p>El Salvador received $8,181.8 million through remittances in 2023.<\/p>\n\n\n\n<p>El Salvador received 15.6 percent of remittances that arrived in Central America in 2023, confirmed data from the Executive Secretariat of the Central American Monetary Council (Secmca).<\/p>\n\n\n\n<p>The information, shared at the macroeconomic news conference in the Central American and Dominican Republic region &#8211; carried out last week &#8211; points out that in 2023 the region received $52.598.5 million in remittances.<\/p>\n\n\n\n<p>Of this portion, $8,181.8 million were destined for Salvadoran households, or $15 out of every $100 they arrived in the region.<\/p>\n\n\n\n<p>The country that received the largest amount of remittances was Guatemala with $19.804 million, this figure covered 37.7 percent of the total that entered Central America.<\/p>\n\n\n\n<p>The analysis does not include Panama, but adds to the Dominican Republic. The latter earned $10,157.2 million through remittances, 19.3 percent of what the entire region received. In the same vein, Honduras obtained 17.4 per cent, Nicaragua 8.9 per cent and Costa Rica 1.2 per cent.<\/p>\n\n\n\n<p>The region received more than $52 billion in family remittances in 2023, an increase of 9.1 percent, is an additional $4 billion compared to 2022, said the executive secretary of the Central American Monetary Council (CMCA), Odalis Francisco Marte Alevante.<\/p>\n\n\n\n<p>Mars Alevante explained that when the data are analyzed in its representative percentage before the Gross Domestic Product (GDP) of each nation, it is evident that Nicaragua has a higher representation of remittances, with 26.8 percent.<\/p>\n\n\n\n<p>In this country (Nicaragua), remittances have more than doubled in recent years, said the CMCA spokesman.<\/p>\n\n\n\n<p>Remittances represent 26.6 per cent of GDP in the Honduran economy, while for El Salvador it amounts to 23.5 per cent and for Guatemala 18.7 per cent.<\/p>\n\n\n\n<p>The smallest portions are covered by the Dominican Republic with 8.3 % representing GDP and Costa Rica with 0.7%. The CMCA said it is linked to the low levels of migration reported by the Central American neighbor.<strong><br>Household consumption and maintenance.<\/strong><\/p>\n\n\n\n<p>The Central Reserve Bank (BCR) noted that $9 out of every $10 that enters El Salvador in family remittances was used for consumption in 2023.<\/p>\n\n\n\n<p>Within this route, the money could be used to support the home, special occasions or medical expenses.<\/p>\n\n\n\n<p>Although remittances in El Salvador grew by 4.6 % in 2023, the data were not positive in the first month of 2024, when a decrease of 0.4% was reported compared to the same period last year, and $594.1 million was counted.<\/p>\n\n\n\n<p>The United States remains this year as the main issuer of remittances for Salvadoran families, with 92.1 percent of the money counted.<\/p>\n\n\n\n<p>Despite the fall, Inter-American Di\u00e1logo points out that remittances could grow by up to 3.2 percent in 2024 and exceed $8.347 million.<\/p>\n\n\n\n<p><strong><em>This article has been translated from the original which first appeared in <\/em><\/strong><a href=\"https:\/\/diario.elmundo.sv\/economia\/el-salvador-recibe-un-15-de-las-remesas-que-llegan-a-centroamerica\"><strong><em>Diario El Mundo<\/em><\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador received $8,181.8 million through remittances in 2023. El Salvador received 15.6 percent of remittances that arrived in Central America in 2023, confirmed data &#8230; <a title=\"El Salvador receives 15% of remittances to Central America\" class=\"read-more\" href=\"https:\/\/latamreports.com\/br\/el-salvador-receives-15-of-remittances-to-central-america\/\" aria-label=\"Read more about El Salvador receives 15% of remittances to Central America\">Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":3083,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2,13],"tags":[17],"class_list":["post-4765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-negocios","category-politica","tag-el-salvador","resize-featured-image"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>El Salvador receives 15% of remittances to Central America - LatAm Reports<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/latamreports.com\/br\/el-salvador-receives-15-of-remittances-to-central-america\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Salvador receives 15% of remittances to Central America - LatAm Reports\" \/>\n<meta property=\"og:description\" content=\"El Salvador received $8,181.8 million through remittances in 2023. 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