Mexico Remittances June 2018

Mexico

Mexico: Remittance inflows accelerate in June

August 1, 2018

Remittances totaled USD 3.1 billion in June (May: USD 3.2 billion), a robust 23.1% increase from the same month last year, accelerating from the revised 17.1% rise registered in May (previously reported: +19.8% year-on-year). June’s print was driven by rapid growth in the number of electronic transfers. The average amount remitted rose from USD 313 a year prior to USD 343.

Inflows have accelerated in line with non-farm U.S. employment gains in recent months, and should see further support in the months ahead from the tight U.S. job market. Along with June’s strong reading, remittances registered an all-time high of USD 32.0 billion in the 12 months up to June, up from the USD 31.4 billion sum recorded in the twelve months up to May. June’s 12-month rolling figure increased 12.6% annually (May: +11.5% yoy).

FocusEconomics panelists expect remittances to remain upbeat this year, reaching USD 29.7 billion by the end of 2018. For 2019, the panel sees remittances at USD 30.3 billion at the end of the year.


Author:, Economist

Sample Report

Looking for forecasts related to Remittances in Mexico? Download a sample report now.

Download

Mexico Remittances Chart


Mexico Remittances June 2018 0

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


Mexico Economic News

  • Mexico: Consumer confidence hits decade-high following AMLO’s win

    August 3, 2018

    Consumer sentiment jumped in July on the heels of the 1 July general election, with the seasonally-adjusted consumer confidence index published by INEGI hitting a decade-high 101.7 points, up from a revised 88.6 points in June (previously reported: 88.0 points).

    Read more

  • Mexico: Banxico holds rates in August

    August 2, 2018

    At its 2 August monetary policy meeting, Banxico’s five-member board voted unanimously to hold the target rate at 7.75% after previously hiking rates ahead of the 1 July general election, a move broadly in line with market expectations.

    Read more

  • Mexico: Growth disappoints in Q2 amid election-year challenges

    July 31, 2018

    A preliminary estimate for economic activity in the second quarter confirmed the challenges facing the economy in the run-up to the 1 July general election, with growth in the quarter coming up short against market expectations.

    Read more

  • Mexico: Trade deficit widens in June

    July 27, 2018

    Merchandise trade recorded a USD 0.9 billion deficit in June (May: USD 1.6 billion deficit), widening markedly from the USD 0.0 billion trade balance registered in June 2017.

    Read more

More news

Search form