Mexico Remittances


Remittances decline for a fourth consecutive month

In November, remittances from overseas migrant workers, mostly in the United States, totalled USD 1.7 billion. The figure represents a 5.1% contraction over the USD 1.8 billion seen recorded in the same month the year before, which nonetheless marks an improvement over the 7.1% year-on-year drop seen in October. That said, with November's drop remittances have declined for four consecutive months.

In the 12 months up to November, remittances edged down to USD 22.5 billion, which represents a 0.9% decline compared to the same period the previous year.


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Mexico Remittances Chart

Mexico Remittances November 2012

Note: Year-on-year variation of remittances from Mexican workers abroad and U.S. non-farm payrolls.
Source: Mexico Central Bank (Banxico) and U.S. Bureau of Labor.

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