Mexico: Remittances growth retreats again in May
July 1, 2019
Remittances totaled USD 3.2 billion in May (April: USD 2.9 billion), a 1.5% increase from the same month a year ago (April: +3.6% year-on-year). May’s result marked a second consecutive slowdown in remittances growth, which has lost steam alongside U.S. non-farm payrolls activity. However, the average amount remitted edged up to USD 322 from USD 321 a month prior.
In the 12 months up to May, remittances totaled USD a record-high 34.1 billion, slightly above the USD 34.0 billion recorded in the 12 months up to April. May’s 12-month rolling total marked an 8.6% increase from a year earlier (April: +5.4% year-on-year).