Mexico: Remittances growth moderates in October
December 1, 2014
In October, remittances from workers abroad totaled USD 2.04 billion. The print came in slightly above the USD 1.91 billion observed in the same month last year and virtually matched the USD 2.01 billion the market had expected. October’s result represented a 6.5% increase over the same month last year and marked slight deceleration compared to the 7.5% rise recorded last month.
In the 12-months up to October, remittances totaled USD 23.2 billion, which represented a 6.9% expansion over the same period the previous year. The reading followed the 7.0% rise tallied in the 12 months up to September. The peak in remittances occurred in 2007, with a total of USD 26.1 billion.
Author: Ricardo Aceves, Senior Economist