El Salvador ended 2021 with the best performance in remittances and exports in the last three decades, which affected the growth of the Gross Domestic Product (GDP) by more than 10 points.
According to the Central Reserve Bank (BCR) remittances grew by 27%, while exports had a significant rise of 31.8% at the end of last year.
This has been achieved despite the coronavirus pandemic that brought an economic recession to the entire world, still affecting world powers, exports lost ground on a national scale in 2019 and 2020.
Regarding remittances sent from abroad, $1,600.5 million were injected into the Salvadoran GDP. The contribution of exports was $6,528.8 million, allowing the development of social projects for the benefit of the population.
Data confirms that at least 25% of Salvadoran households are supported by money sent by their relatives from the United States, Canada, Spain, and other countries where they reside.