Mexico: Remittances growth accelerates in September
November 3, 2014
In September, remittances from Mexican workers abroad totaled USD 1.95 billion. The print was just above the USD 1.83 billion registered in the same month last year and matched market expectations. September’s result marked a 7.1% expansion in year-on-year terms and represented an acceleration over the 5.4% increase tallied in August.
The 12-month sum of remittances up to September totaled USD 23.1 billion, which represented a 7.0% expansion over the same period the previous year. The reading followed the 7.2% expansion tallied in the 12 months up to August. The peak in remittances occurred in 2007, with a total of USD 26.1 billion.
Author: Ricardo Aceves, Senior Economist