Mexico: Remittances growth rises in April
Remittances totaled USD 4.7 billion in April, representing a 16.5% year-on-year jump, on the heels of March’s 12.9% year-on-year increase.
On a cumulative 12-month basis up to April, remittances summed USD 54.2 billion, down from the USD 53.0 billion registered in March. April’s 12-month moving average signaled a 26.1% rise from a year earlier (March: +27.9% year-on-year). The strong U.S. labor market—which has in recent months added more jobs than expected despite surging inflation—continues to buoy remittances inflows.