Remittances sent by Ecuadorian migrants became the country’s largest source of foreign currency inflows in the third quarter of 2025, according to data released by the Central Bank of Ecuador (BCE). Between July and September, Ecuador received $2.012 billion in remittances, marking a new historical high for a single quarter, according to a report by El Universo.
Cumulatively, remittance inflows reached $5.737 billion between January and September 2025, representing a 20.7% increase compared to the same period in 2024, when remittances totaled $4.753 billion. The year-over-year increase amounted to $984.2 million, the Central Bank reported.
The BCE attributed the sustained growth in remittances primarily to uncertainty surrounding U.S. immigration policy and to commercial strategies implemented by money transfer institutions aimed at improving the efficiency and security of remittance flows. Additionally, higher wages among Latin American and Caribbean migrants in the United States also played a role.
According to the Central Bank, citing a report from the Inter-American Development Bank (IDB), the average weekly salary of Latin American and Caribbean migrants in the U.S. rose to $938 in the third quarter of 2025, the highest level recorded in the past 18 years.
During the third quarter alone, remittance inflows increased 0.6% compared to the second quarter and 15.1% year-over-year. The BCE noted that this performance not only set a new quarterly record but also consolidated remittances as the leading source of foreign currency for Ecuador’s economy during this period, surpassing traditional export sectors.
Between July and September, remittances were sent through 5.68 million individual transfers, with the average amount per transaction rising to $354.40, reflecting a greater capacity among migrants to send financial support to their families.
United States Remains the Main Source
The United States continued to be the dominant source of remittances, accounting for 77% of total inflows in the third quarter of 2025. Transfers from the U.S. totaled $1.549 billion, representing a 0.9% increase over the previous quarter and a 19% increase compared to the same period in 2024.
Spain and Italy followed as key source countries, sending $279.7 million and $42.4 million, respectively. Remittances from Mexico, Chile, Canada, Peru, and Colombia totaled $58.3 million, while transfers from the United Kingdom, Switzerland, Germany, France, and Belgium reached $51.9 million.
“The inflow of remittances has become a permanent source of support for beneficiary households, helping to cover basic needs, stimulate local economic activity through consumption, and promote financial inclusion,” the Central Bank stated.
Provinces Receiving the Most Remittances
At the provincial level, Guayas received the highest amount of remittances in the third quarter, totaling $679.6 million, followed by Pichincha ($330.1 million), Azuay ($325.1 million), and Cañar ($101 million).
In all of 2024, Ecuador received $6.539 billion in remittances, a 20.1% increase compared to 2023. For 2025, the Central Bank estimates that remittance inflows will approach $7 billion, underscoring their growing importance to the national economy.
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