Remittances from US still growing
The US may be tightening control over its borders, more Salvadorans than ever may have been deported back to the country from the US, and the US economy and job growth may be slowing, but remittances sent back to family members in El Salvador just keep on growing. El Salvador's Central Reserve Bank just reported that in the first half of 2007, remittances totaled $1.82 billion dollars. In June alone, remittances totaled $383 million compared to only $277 million in June 2006. The Central Reserve Bank projects that the total for all of 2007 will close approximately 10-15% higher than the prior year. At that level, El Salvador's remittance income from exporting its people, could equal or exceed the income of $3.5 billion the country received from all exports of goods and services.