• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Ecuador asks Mexico for a response on bananas and shrimp
Losses in the non-oil export sector amount to $85 million in 16 days of strike
The Government withdraws from the dialogue table after the death of a soldier
Popular oil would arrive in stores from this week at prices ranging from $1 to $1.25
Legislators denounce pressure and threats to vote for the removal of the President of the Republic, Guillermo Lasso
Conaie agrees to meet with representatives of all State powers
Ecuador’s oil production falls 51% due to national strike
Guillermo Lasso announces that the National Police and the Armed Forces will act with the necessary means to defend public order and democracy
“Cacerolazo” for Peace in Quito
Contecon will extend the free storage time by 40%, in support of the export sector affected by strikes

Ecuador received more remittances in 2016

Posted On 17 Mar 2017
A total of USD 2 602 million were received by Ecuador in 2016 for remittances sent by migrants residing in the United States, Spain, Italy and other countries. That amount represented an increase of 9.7% compared to 2015, according to the latest report published by the Central Bank of Ecuador.
This behavior modifies the trend because in 2015 the number of remittances decreased when compared to what happened in 2014. The decrease, in that case, was a 3.4%: from USD 2 461.7 million to USD 2 377.8 million. The increase last year was due to a better performance of the US, Spanish and Italian economies, which are the main destinations of Ecuadorian migrants, according to the report of the Central Bank. 1.7 million compatriots live in those countries and 2 020 000 worldwide.

 

For the dean of the Faculty of Economics of the University of Cuenca, Rodrigo Mendieta, these resources are valuable because they represent an injection of foreign exchange for a shrinking economy, and because these serve to pay the daily expenses of the families that receive this money. Mendieta, who published the book “Remittances and regional economic disparities. Ecuadorian case,” says that the government should give greater importance to remittances because they represent a greater amount of money than foreign investment received by Ecuador. Also, incentives are needed for that money to be not only for consumption but also for investment.

Remittances from the United States reached USD1.46 billion in 2016, which represented 9.7% more than in 2015. From Spain remittances were USD 685.7 million, a 12% increase. In contrast, migrants living in Italy sent USD 157 million, a 7% more than in 2015.


Source: 
http://www.elcomercio.com/actualidad/bancocentral-ecuador-remesas-migrantes-economia.html

About the Author
  • google-share
Previous Story

The Recycob company will manage the portfolio of the closed banks

Next Story

President Rafael Correa blocks Guillermo Lasso on Twitter

SEARCH

LATEST NEWS

Ecuador asks Mexico for a response on bananas and shrimp

Posted On 29 Jun 2022

Losses in the non-oil export sector amount to $85 million in 16 days of strike

Posted On 29 Jun 2022

The Government withdraws from the dialogue table after the death of a soldier

Posted On 28 Jun 2022
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net