Mexico: Remittance inflows cool in September
Remittances totaled USD 2.7 billion in September (August: USD 2.9 billion), an 8.8% increase from the same month last year. The result was below August’s 9.1% rise and marked the slowest growth since March. However, the average amount remitted rose from USD 306 a year prior to USD 317 in September.
Inflows have cooled off in recent months despite upbeat non-farm U.S. employment gains. Remittances registered an all-time high of USD 32.7 billion in the 12 months up to September, up from the USD 32.5 billion sum recorded in the 12 months up to August. September’s 12-month rolling figure increased 12.0% annually (August: +11.7% year-on-year).