The accumulated total of January to April remittances received from Nicaraguans living and working abroad was US $866.5 million. (Source: Banco Central De Nicaragua).
When compared to the US $671.2 million for January to April remittances in 2021, it represents an increase of 29.1 percent for the first quarter.
In the month of April alone, remittances totaled US $233.9 million dollars or 36.9 percent higher than the US $170.8 million that was sent home in April of 2021.
Money being sent from the Unites States was up by 48.3%. Also showing a significant increase was El Salvador (up by 20.5%), Canada (14.9%) and Costa Rica (2.8%).
Meanwhile, money from Spain fell by 9.6% and Panama by 9.0%.
The Unites States of America continues to lead the chart of where the money comes from, contributing a massive 75.2% of the total received in April.
Spain continues to replace Costa Rica in second place with 9.2% and Costa Rica with 8.4%. Panama accounts for 2.3% of the total and Canada only 1.2%.
Those “Top Five” accounted for 96.3% of the total received in April 2022.
Click here for Remittances by country of origin since 2016.
These numbers for the first four months of 2022 continue the upward trend from 2021 when a total of US $2.147 billion dollars in remittances was received by Nicaragua.
According to the Central Bank of Nicaragua, remittances account for 17% of the country’s gross domestic product (GDP).
Click here for the complete month by month totals since the year 2000.
First Quarter 2022
During the first quarter of 2022 (January, February and March), the Central Bank of Nicaragua reported that US $632 million was sent back to families in Nicaragua. That was an increase of US $132.2 million or 26.4% when compared to the first quarter of 2021 (US $500.5 million).
Also during that time period, Managua was the number one recipient with 28.5 percent of the total money sent home. They were followed by Chinandega (10.9%), Matagalpa (9.8%), Estelí (8.7%), Nueva Segovia (7.2%) and León (6.0%).
