Ecuadorean Remittances Fell 4.4% in Fourth Quarter, Bank Says

Remittances from Ecuadoreans living abroad fell 4.4 percent in the fourth quarter to $647 million from a year earlier as economic slowdowns in Europe and the U.S. reduced immigrants’ earnings, the central bank said.

Remittances declined 3.5 percent from the previous quarter, the bank said today in a report posted on its Facebook account that was confirmed by Carlos Andrade, an economist at the institute.

To contact the reporter on this story: Nathan Gill in Quito at ngill4@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net