Mexico Remittances June 2019

Mexico

Mexico: Remittances fall for the first time in over three years in June

August 1, 2019

Remittances totaled USD 3.1 billion in June (May: USD 3.2 billion), a 0.7% drop from the same month a year ago (May: +1.4% year-on-year). June’s fall marked the first fall in remittances since March 2016, which came alongside slowing U.S. non-farm payrolls growth. However, the average amount remitted rose to USD 336 from USD 322 a month prior.

In the 12 months up to June, remittances totaled USD a record-high 34.1 billion, matching the USD 34.1 billion recorded in the 12 months up to May. June’s 12-month rolling total marked a 6.6% increase from a year earlier (May: +8.6% year-on-year).

FocusEconomics panelists expect remittances to remain upbeat this year, reaching USD 35.1 billion by end-2019. For 2020, the panel sees remittances at USD 35.7 billion by year-end.


Author:, Economist

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Mexico Remittances Chart


Mexico Remittances June 2019

Note: Year-on-year variation of remittances from Mexican workers abroad and of U.S. non-farm payrolls.
Source: Banco de México (Banxico) and the U.S. Bureau of Labor Statistics.


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