Do you know how many Salvadoran families receive remittances each month? Here is the answer

In El Salvador, 25% of households receive monthly transfers; Which, for the most part, is used for consumption, according to the Central Reserve Bank (BCR). Between January and August 2022, the country received $5,065.6 million, of which $5,019 million is for depreciation.

“A large proportion of remittances are used for consumption, they help families to get additional income to meet their needs,” said Douglas Rodriguez, President of BBK.

Rodriguez explained that of the total family transfers received as of August, only $47 million was earmarked for investment in business and the purchase of homes and personal property. This was 45% higher than what was allocated in August last year.

El Salvador receives remittances from more than 140 countries in the world, but 93.8% of them come from the United States. Between January and August, $4,753 million was sent from the North American country, which means 1.7% growth, or an additional $78 million, compared to the same period in 2021.

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