Family remittances to Nicaragua increase 19.7% in first half of 2021

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Managua, Aug. 7 (EFE) .- Nicaraguans received $ 1,030.2 million in family remittances in the first half of this year, 19.7% more than in the same period of 2020, a reported this Saturday the Central Bank of Nicaragua (BCN).

Cumulatively through June 2021, Nicaraguans received $ 169.6 million more than they received in the first six months of 2020, when they added $ 860.6 million in shipments. funds, the state’s issuing bank said in a monthly report.

Of the total remittances received in May (cumulative), 62.6% came from the United States ($ 644.7 million), followed by Spain with 14.8% ($ 152.8 million). dollars), which moved second place to Costa Rica, which is now third. with 12.8% (131.5 million dollars), according to official information.

Next, in that order, are Panama (3.4%) and Canada (1.4%), which along with the United States, Spain and Costa Rica, accounted for 95% of the total, the source explained. .

Nicaragua received $ 1,851.4 million in remittances in 2020, 10% more than in 2019, according to official figures.

Remittances represent 14.6% of the country’s gross domestic product (GDP), which closed last year at $ 12,621.5 million.

Nicaragua received $ 1,682.4 million in family transfers in 2019, 12.1% more than those received in 2018.

The total family remittances received by Nicaraguans in 2018 was $ 1,501.2 million, in 2017 $ 1,390.8 million, in 2016 $ 1,264.1 million, $ 1,193.4 million in 2015, 1,135.8 million in 2014 and 1,077.7 million in 2013.

About 20% of the total population of Nicaraguan origin, estimated at 6.5 million, live abroad, mainly in the United States and Costa Rica, and it is estimated that half of them do so. illegal immigrant.

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