Sending of remittances to Ecuador had a significant reduction in the first half of 2020

According to ECB estimates, there was a 9.52% decrease compared to the previous year.

The Central Bank of Ecuador (BCE), in its latest report, detailed that the remittances that arrived in Ecuador, by migrants abroad, had a significant reduction in the first half of 2020. The entity acknowledged that from January to In June this year, USD 1,398 million were sent, 9.52% less compared to the same period last year.

In its report, the Central Bank stated that the fall in the flow of remittances this semester is attributed to the health emergency that was declared worldwide by the Covid-19 pandemic.

In addition, this disease attacked strongly in Italy, Spain and the United States, countries from which the majority of remittance flows come.

The flow of remittances from the United States in the first half of 2020 was USD 844 million, 6% lower than those reported in 2019 (USD 898 million).

In the same way, the remittances that arrived from Spain totaled USD 321.32 million, a figure 16.19% lower than the one that arrived in the same period of 2019 (USD 383.38 million).

On the other hand, the money that arrived from Ecuadorian migrants in Italy, in the first half of 2020, totaled USD 72.72 million, which is equivalent to a fall of 5.34% compared to that recorded in 2019 (USD 76, 82 million).

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