Mexico: Remittances continue to gather momentum
April 2, 2012
In February, remittances from workers abroad reached a total of USD 1.79 billion, which was a notch above market expectations of remittances totalling USD 1.76 billion. The figure represented an 8.5% expansion over the amount reached in same month last year and came in above the 7.2% rise recorded in January. Owing to the relatively robust monthly print, remittances totalled USD 23.0 billion in the last 12 months, which marked a 7.1% increase over the corresponding period of the previous year. That said, despite the continuous improvement witnessed in recent years, annual remittances still linger below their peak of USD 25.5 billion reached in October 2008.