Mexico Remittances February 2019

Mexico

Mexico: Remittances broadly unchanged in February

April 1, 2019

Remittances totaled USD 2.4 billion in February, a 6.4% increase from the USD 2.3 billion inflows recorded in February 2018. Remittances growth was broadly unchanged from a month prior (January 2019: +6.5% year-on-year).

In the twelve months up to February, remittances totaled a record-high of USD 33.8 billion, up from the USD 33.6 billion recorded in the 12 months through January. A hot U.S. economy and healthy gains in U.S. non-farm payrolls have helped support remittances inflows.

FocusEconomics panelists expect remittances to remain upbeat this year, reaching USD 34.9 billion by the end of 2019. For 2020, the panel sees remittances at USD 35.5 billion by year-end.


Author: Angela Bouzanis, Senior Economist

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Mexico Remittances Chart


Mexico Remittances February 2019

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.


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