Mexico: Remittances growth improves in October
December 1, 2021
Remittances summed USD 4.8 billion in October, representing a 33.8% year-on-year surge. This follows September's 23.5% year-on-year increase, and was aided by a strong U.S. labor market. On a cumulative basis up to October, remittances amounted to USD 49.2 billion, above the USD 48.0 billion recorded in September. October’s 12-month moving average signaled a 24.2% rise from a year earlier (September: +22.5% year-on-year).Analysts project remittances to rise to USD 49.0 billion in 2022. For 2023, the panel sees remittances at USD 48.1 billion.