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Mexico Remittances November 2021

Mexico: Remittances continue to surge in November

Remittances summed USD 4.7 billion in November, representing a 37.7% year-on-year surge. This follows October’s 33.8% year-on-year increase, and was likely aided by a strong U.S. labor market. On a cumulative basis up to November, remittances amounted to USD 50.5 billion, above the USD 49.2 billion recorded in October. November’s 12-month moving average signaled a 26.0% rise from a year earlier (October: +24.2% year-on-year).

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