Updates to monthly remittances data

Updates to monthly remittances data

• Remittances to Guatemala declined 10.9% y-o-y in October. Year-to-date decline is 9.9%.
• Remittances to El Salvador declined 7.1% y-o-y in October. Year-to-date decline is 10%.
• Remittances to Jamaica declined 17.3% y-o-y in September. Year-to-date decline is 15.5%.
• Remittances to Nicaragua declined 8.4% y-o-y in September. Year-to-date decline is 6.3%.
• Remittances to Pakistan grew 62.7% y-o-y in October. Year-to-date growth is 26.7%.
• Remittances to Nepal grew 2% y-o-y in September. Year-to-date growth is 14.2%.
• Remittances to the Philippines grew 8.6% y-o-y in September. Year-to-date growth is 4.2%.

Remittances to Latin America and Caribbean are falling:

 Whereas, remittances to South Asia are growing:

An interesting trend is that flows from GCC to the Philippines are easing: