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Nicaragua Remittances Up 10% up to September 2017

In the first nine months of the year, the flow of remittances that came into the country totaled $1,138 million, registering a 10% increase compared to the same period in 2016.

From a report by the Central Bank of Nicaragua:

Remittances received by the Nicaraguan economy amounted to 355.6 million dollars in the third quarter of 2017, which meant a growth of 13.6 percent over the same period in 2016 (US $312.9 million), continuing the positive trend seen since 2010.

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Meanwhile, remittances represented 10.2 percent of GDP estimated for the third quarter of the year, consolidating this category as an important source of foreign currency income in Nicaragua. For its part, the flow of remittances accumulated up to the month of September 2017 stood at 1,019.6 million dollars (10.6% higher than that observed in 2016).

In the third quarter of 2017, the US economy (53.8%) continued to figure as the main issuer of remittances to Nicaragua; followed by Costa Rica (19.4%), Spain (10.7%) and Panama (7.2%). This group of countries accounted for 91.1 percent of the total remittances received during the third quarter of 2017.

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