Downtown San Salvador.
SAN SALVADOR, El Salvador — Remittances to El Salvador continue to fuel the economy, posting strong growth through the first five months 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 total $3.97 billion, an 15.8% increase—or $541.9 million more—compared to the same period in 2024.
In May alone, Salvadorans received $899.1 million in remittances, up 17.7% 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 | 805.9 | 56.5 (7.5%) |
| May | 414.4 | 688.7 | 706.9 | 761.4 | 763.8 | 899.1 | 135.3 (17.7%) |
| 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 “Millions” | 5929.9 | 7585.2 | 7819.6 | 8275.4 | 8479.7 | 3974.8 | 15.8% *YTD |
The United States continues to be the largest source of remittances to Salvadorans, contributing $3.68 billion, which constitutes 92.5% of the total.
Canada follows with $34.8 million, accounting for 0.9%, while Spain ranks third with $25.8 million (0.6%), and Italy is fourth with $23.4 million (0.6%).
Crypto Wallet Remittances to El Salvador
Meanwhile, remittances sent via cryptocurrency wallets have plunged. As of May, crypto-based remittances amounted to $20.7 million, down 42% compared to the same period in 2024.
The BCR said this represents a year-over-year decrease of $15.0 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 | 4.4 | -3.3 (-42.8%) |
| May | — | 12.6 | 7.7 | 6.8 | 4.6 | -2.2 (-32.0%) |
| 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 | 20.7 | -42.0% *YTD |
SEE ALSO: El Salvador Bitcoins: A Nation’s Journey into Digital Currency
Remittances by Department
As of May 2025, the San Salvador department leads the country in remittance inflows, receiving 18.5% of the national total, or $735.2 million.
Remittances to the San Salvador department have increased by 8.8%, representing a $59.3 million rise 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 $113.9 million. Despite a 18.8% increase—equivalent to an additional $18.1 million over the previous year—Cuscatlán continues to rank last nationwide.
- San Salvador 735.2
- San Miguel 446.6
- La Libertad 342.6
- Santa Ana 312.4
- Usulután 295.6
- La Unión 280.1
- Chalatenango 230.7
- Sonsonate 204.4
- Cabañas 177.3
- Morazán 174.2
- La Paz 167.4
- Ahuachapán 163.7
- San Vicente 136.8
- Cuscatlán 113.9
Remittances by Municipalities
The San Salvador Center municipality has received the highest volume of remittances so far this year, totaling $430.2 million, or 10.8% of the national figure, an increase of $21.5 million compared to the same period in 2024.
In contrast, the Sonsonate North municipality has recorded the lowest amount, receiving $17.3 million, or 0.4% of the total, reflecting a 18.6% increase over the previous year.
Top Five Municipalities
- San Salvador Centro 430.2
- San Miguel Centro 277.9
- San Salvador Este 159.4
- Usulután Este 156.4
- La Unión Norte 147.2
Bottom Five Municipalities
- San Salvador Sur 33.0
- Chalatenango Norte 29.5
- Santa Ana Este 21.6
- Ahuachapán Norte 20.1
- Sonsonate Norte 17.3
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.
