The US highlights that it is the main source of remittances for Nicaragua

The US highlights that it is the main source of remittances for Nicaragua

The US embassy in Managua reported this Saturday, March 19, that the United States was the main source of remittances for Nicaragua during 2021, with 1,370.4 million dollars, which represents 11% of the Gross Domestic Product (GDP) of the Central American country. .

“Nicaraguan families received nearly 1.4 billion dollars (11% of Nicaragua’s GDP) in remittances from the US in 2021,” the diplomatic delegation highlighted in a message sent to the press, including Efe.

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“These funds put food on the table and are the livelihood of millions of Nicaraguans,” he stressed.

Nicaragua received 2,146.9 million dollars in family remittances in 2021, 16% more than in 2020, of which 1,370.4 million dollars came from the United States, according to the Central Bank.

The main sources of origin of remittances received in 2021 were the United States with 63.8%, followed by Spain (14.1%), which for two years displaced Costa Rica from second place (12.5%), which is now third, according to the monetary entity.

Panama (3.2%) and Canada (1.4%) are fourth and fifth, respectively.

Nicaraguans received 1,370.4 million dollars from their relatives residing in the United States last year, 23.3% more growth compared to 2020 (1,111.2 million dollars), according to official data.

Remittances represent 17% of the GDP of the Central American country.

Close to 20% of the total population of Nicaraguan origin, estimated at 6.6 million inhabitants, lives abroad, mainly in the United States and Costa Rica, and it is estimated that half of them do so undocumented.

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