Mexico: Remittances decline for a fourth consecutive month
January 2, 2013
In November, remittances from overseas migrant workers, mostly in the United States, totalled USD 1.7 billion. The figure represents a 5.1% contraction over the USD 1.8 billion seen recorded in the same month the year before, which nonetheless marks an improvement over the 7.1% year-on-year drop seen in October. That said, with November's drop remittances have declined for four consecutive months.
In the 12 months up to November, remittances edged down to USD 22.5 billion, which represents a 0.9% decline compared to the same period the previous year.