The February 2023 “Remittances from Abroad” numbers are in from the Central Bank of Nicaragua (Banco Central de Nicaragua – BCN) and they show an incredible 63.5 percent increase when compared with the month of February 2022 which was US $202.2 million.
The February 2023 remittances sent home from those living and working outside of Nicaragua, totaled US $330.6 million dollars which is 4.3 percent more than the previous month of January 2023 when it was recorded that US $317.0 was sent home.
Where did it come from?
US $269.2 million or 81.4% of the February 2023 total came from
the United States.
In second place was Costa Rica with US $26.2 million or 7.9 percent from Costa Rica, Spain was third with US $20.4 million or 6.2 percent, those in Panama sent US $4.1 million 1.2% and rounding off the top five was Canada with S$ 2.3 million or 0.7%.
These top five nations represented 97.5 percent of the total remittance money sent home to Nicaragua in February.
2023 Accumulated
With only two months of figures in (January and February), the Year to Date accumulation is US $647.6 million dollars sent home to Nicaragua from those living abroad. In 2022, that number was US $396.9 million for the same two months meaning a year on year January and February increase of 63.2 percent,
Remittances from the United States are up by 92.5% and Costa Rica by 14.1%. However; Spain was down by -8.8% and Panama -18.9%.
2022 Final Numbers
The staggering numbers follow the pattern of the last few years. The flow of remittances for the year 2022 was US$3,224.9 million. That was 50.2% more than was sent in all of 2021.
The top five countries where the remittances came from in 2022 were; United States US$2,469.7 or 76.6 percent, Costa Rica US $275.9 million or 8.6 percent, Spain US $270.1 million or 8.4 percent, Panama US $62.8 million or 1.9 percent and US $32.9 million or 1.0 percent. These top five countries sent 96.5 percent of the 2022 total.
Source: BCN
Links:
Monthly Remittances 2000 – 2023
Remittances by Country of Origin
