Mexico Remittances August 2021


Mexico: Growth in remittances accelerates in August

October 4, 2021

Remittances totaled USD 4.7 billion in August, representing a 32.7% year-on-year expansion. This follows July's 28.6% year-on-year rise. On a 12-month moving average basis in August, remittances tallied USD 47.1 billion, above the USD 46.0 billion registered in July. August’s 12-month rolling total signaled a 21.8% increase from a year earlier (July: +19.4% year-on-year).

Analysts project remittances to rise to USD 46.3 billion in 2021, spurred by fiscal stimulus and falling unemployment in the U.S. For 2022, the panel sees remittances at USD 48.0 billion.


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Mexico Remittances Chart

Mexico Remittances August 2021 0

Note: Year-on-year variation of remittances from Mexican workers abroad and of U.S. non-farm payrolls.
Source: Banco de México (Banxico) and the U.S. Bureau of Labor Statistics.

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