Remittances -

The money sent back to Nicaragua by those living abroad continues to break records. Figures now in for 2013 show a record US $1.07 Billion was sent back to families here, a 6.2% increase over the 2012 total. As usual, December was the best month with US $111 million coming in. Estimates are that between 800,000 and One Million Nicaraguans are living abroad. There was a slight dip in 2008/2009 however since recovering to US $822 million in 2010; the annual figure has been climbing. Unfortunately, many Nicaraguans that receive the money use it for regular expenses and only a small portion (20%) is saved or used for life changing expenses such as building a house. The average amount sent home per transaction is almost $190.

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