Mexico: Remittances gather pace in February
Remittances totaled USD 2.7 billion in February (January: USD 2.6 billion), representing a robust 10.5% increase from the same month in 2019 and following the 5.2% rise logged in January. February’s quickening came in line with a pick-up in U.S. non-farm payrolls growth. Meanwhile, the average amount remitted was USD 321, matching that of the prior month.
In the 12 months up to February, remittances totaled a record-high USD 36.4 billion, above the USD 36.2 billion recorded in the 12 months up to January. February’s 12-month rolling total marked a 7.0% increase from a year earlier (January: +6.8% year-on-year).