Remittances from abroad during the month of May 2023 increased by more than 60%, in relation to the same period in 2022, as announced by the Central Bank of Nicaragua (BCN), through a report.
In total, the previous month entered the country 426.2 million dollars. In May of last year, remittances in the order of 266.0 million dollars were reported, that is, in the same 30 days from one year to the next, Nicaragua received 160 million more.
In relation to the behavior of the month of April 2023, where 374.3 million dollars were received, there is also a significant increase of 51.9 million dollars more in the month of May of this year.
In total, the accumulated, for the first five months of 2023, is 1,820.8 million dollars. As of May 2022, the total figure was 1,132.5 million dollars, which indicates a growth of 60.8%.
The countries that lead the list of shipments are: the United States with 83.7%, equivalent to 356 million dollars; followed by Costa Rica that reaches 6.8% or 28.8 million dollars; 5.5% comes from Spain with 23.3 million dollars; 1.1% came from Panama, corresponding to 4.8 million dollars; and 0.8% came from Canada, which represented 3.3 million dollars.
Related news: Remittances increased 61.3% in the first quarter of 2023
Spain and Panama decrease amount of Remittances
The percentage of remittances made from the United States and Costa Rica increased this month, due to the migratory flow to those nations. This compensates the countries of Spain and Panama, which have decreased in the percentage of remittances sent to Nicaragua.
The increase in family remittances presents significant growth since January 2023, in the first quarter there was an increase of 61.3%, according to the same statistics from the BCN.
