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.