Remittances in Ecuador rose by 5.9%, according to BCE

The remittances that entered to Ecuador in the first quarter of 2014 reached $ 584.4 million, which represented an increase of 5.9% from the same period of last year when the figure was $ 552.2 million, according to the Central Bank of Ecuador (BCE for its Spanish acronym).

In addition, according to the report, the 45.9% of the remittances came from the United States ($ 268.3 million) and there was a small growth of the money sent from that country. It was 3.3% compared to 2013.

In the case of the money that entered the country from Spain, there was also a slight increase of 6.5% because in the first quarter of the last year the figure ranked in $ 184.3 million. From Italy the increase was 5.6%.

Central Bank statistics show that the concentration of remittances is fixed in the provinces of Guayas, Azuay, Pichincha and Cañar, which totaled 73.6%.