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).
Author: Javier Colato, Economist