Nicaragua registers an increase in remittances due to the flow of migrants

MANAGUA.- The Central Bank reported this Friday that remittances sent by Nicaraguans from abroad to their families in Nicaragua They amounted to 1,140.9 million dollars in the first three months of the year, representing an increase of 11.8% compared to the same period of the previous year.

According to the statement issued by the Bank, “the flow of remittances received was 1,140.9 million dollars, which meant an interannual growth of 11.8 percent, equivalent to an additional 120.6 million dollars than what was registered in the same period of 2023”.

During the year 2023, Nicaragua reached a historical record by receiving 4,660.1 million dollars in remittances from its citizens abroad, which represented an increase of 44.5% compared to the previous year, according to data from the Central Bank.

The increase in the flow of remittances is mainly attributed to the growing emigration of Nicaraguans to the United States and other countries, especially after the 2018 opposition protests, according to expert analysis.

The United States continued to be the main country of origin of remittances, with 930.7 million dollars, equivalent to 81.6% of the total for the quarter, followed by shipments in a smaller proportion from Costa Rica (7.9%) and Spain ( 6.1%), according to the bank's statement.