Downtown San Salvador.
SAN SALVADOR, El Salvador — Remittances to El Salvador continue to fuel the economy, posting strong growth through the first quarter of 2025, even as cryptocurrency-based transfers sharply decline, according to new data from the Central Reserve Bank (BCR).
The BCR reported that year-to-date remittances totaled $2.27 billion, an 18.2% increase—or $350 million—compared to the same period in 2024.
In March alone, Salvadorans received $863.3 million in remittances, up 25.4% from a year earlier, underscoring the critical role remittance flows play in the nation’s economic stability.
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change 2024-2025 |
|
|---|---|---|---|---|---|---|---|
| January | 423.8 | 522.3 | 560.3 | 602.2 | 599.9 | 677.1 | 77.3 (12.9%) |
| February | 448.5 | 510.2 | 579.9 | 612.8 | 631.5 | 729.3 | 97.8 (15.5%) |
| March | 435.4 | 688.2 | 685.1 | 721.9 | 688.4 | 863.3 | 174.9 (25.4%) |
| April | 287.3 | 648.0 | 648.7 | 672.6 | 749.4 | ||
| May | 414.4 | 688.7 | 706.9 | 761.4 | 763.8 | ||
| June | 508.1 | 627.1 | 637.9 | 695.2 | 669.1 | ||
| July | 553.1 | 632.7 | 642.4 | 699.5 | 714.0 | ||
| August | 559.3 | 621.5 | 654.9 | 682.8 | 709.1 | ||
| September | 553.4 | 600.9 | 628.1 | 674.1 | 683.1 | ||
| October | 575.4 | 652.7 | 674.1 | 694.5 | 732.4 | ||
| November | 519.4 | 632.3 | 631.9 | 657.8 | 706.3 | ||
| December | 651.6 | 760.7 | 769.5 | 800.7 | 832.7 | ||
| Totals | 5929.9 | 7585.2 | 7819.6 | 8275.4 | 8479.7 | 2269.7 | 18.2% *YTD |
The United States remains by far the largest source of remittances, sending $2.09 billion, or 92.5% of the total.
Canada followed with $19.9 million (0.9%), while Spain and Italy contributed $14.8 million (0.6%) and $13.7 million (0.6%), respectively.
Crypto Wallet Remittances to El Salvador
Meanwhile, remittances sent via cryptocurrency wallets have plunged. As of March, crypto-based remittances amounted to $11.7 million, down 44.9% compared to the same period in 2024.
The BCR said this represents a year-over-year decrease of $9.5 million. Despite El Salvador’s early efforts to promote Bitcoin and other digital assets for cross-border transactions, crypto remittances have struggled to gain traction.
In 2024, they accounted for just 1% of total remittances. So far in 2025, that share has fallen further to just 0.5%, following recent modifications to the country’s cryptocurrency regulations.
| 2021 | 2022 | 2023 | 2024 | 2025 | Change 2024-2025 |
|
|---|---|---|---|---|---|---|
| January | — | 10.1 | 8.4 | 6.8 | 2.4 | -4.3 (-64.0%) |
| February | — | 9.4 | 7.6 | 6.4 | 2.3 | -4.1 (-64.0) |
| March | — | 9.8 | 8.5 | 8.0 | 6.9 | -1.1 (-13.5%) |
| April | — | 10.1 | 7.5 | 7.7 | ||
| May | — | 12.6 | 7.7 | 6.8 | ||
| June | — | 11.5 | 7.0 | 6.8 | ||
| July | — | 10.4 | 6.5 | 7.2 | ||
| August | — | 10.9 | 6.3 | 7.7 | ||
| September | 2.0 | 10.8 | 6.0 | 7.2 | ||
| October | 17.9 | 10.2 | 5.4 | 7.2 | ||
| November | 12.3 | 10.7 | 5.5 | 6.6 | ||
| December | 12.4 | 10.3 | 6.6 | 7.2 | ||
| Totals | 44.6 | 126.7 | 82.9 | 85.5 | 11.7 | -9.5 (-44.9% *YTD |
SEE ALSO: El Salvador Bitcoins: A Nation’s Journey into Digital Currency
Remittances by Department
As of 2025, the San Salvador department leads the country in remittance inflows, receiving 18.7% of the national total, or $425.3 million.
Remittances to the San Salvador department rose 10.1%, an increase of $39.2 million compared to the same period in 2024.
On the other hand, Cuscatlán remains the department with the lowest share, accounting for 2.9% of total remittances, or $65.6 million. Despite a 23% increase—equivalent to an additional $12.3 million over the previous year—Cuscatlán continues to rank last nationwide.
- San Salvador 425.3
- San Miguel 255.8
- La Libertad 195.7
- Santa Ana 177.8
- Usulután 167.9
- La Unión 158.8
- Chalatenango 129.7
- Sonsonate 116.2
- Cabañas 100.8
- Morazán 99.5
- La Paz 95.5
- Ahuachapán 93.3
- San Vicente 77.8
- Cuscatlán 65.6
Remittances by Municipalities
The San Salvador Center municipality has received the highest volume of remittances so far this year, totaling $250.7 million, or 11% of the national figure, an increase of $15.6 million compared to the same period in 2024.
In contrast, the Sonsonate North municipality recorded the lowest amount, receiving $9.8 million, or 0.4% of the total, reflecting a 19.5% increase over the previous year.
Top Five Municipalities
- San Salvador Center 250.7
- San Miguel Center 159.0
- San Salvador East 91.3
- Usulután East 89.0
- La Unión North 83.1
Bottom Five Municipalities
- San Salvador South 19.1
- Chalatenango North 16.6
- Santa Ana East 12.1
- Ahuachapán North 11.4
- Sonsonate North 9.8
SEE ALSO: Analyzing Poverty in El Salvador: An Insight Into El Salvador’s Poverty Rate!
Remittances sent to Salvadorans are pivotal in the nation’s economy, providing vital financial support to many families.
Data from the Multiple Purpose Household Survey (EHPM), published by the Salvadoran Ministry of Economy, indicates that 1.6 million Salvadorans benefit from remittances. Many of these people are in extreme poverty or relative poverty.
Remittances have increased steadily in the last decade; they are a big part of El Salvador’s Gross Domestic Product, GDP.
