Mexico Remittances April 2019

Mexico

Mexico: Remittances growth retreats in April

June 3, 2019

Remittances totaled USD 2.9 billion in April (March: USD 2.9 billion), a 3.6% increase from the same month a year ago (March: +7.8% year-on-year). The average amount remitted edged up to USD 321 from USD 320 a year prior.

Despite continued gains in U.S. non-farm payrolls, remittances growth has pulled back in recent months. That said, in the 12 months up to April, remittances totaled a record-high of USD 34.0 billion, stable from the USD 34.0 billion totaled in the 12 months up to March. April’s 12-month rolling total increased 10.1% from a year earlier (March: +11.0% year-on-year).

FocusEconomics panelists expect remittances to remain upbeat this year, reaching USD 35.1 billion by end-2019. For 2020, the panel sees remittances at USD 35.8 billion by year-end.


Author:, Economist

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Mexico Remittances Chart


Mexico Remittances April 2019

Note: Year-on-year variation of remittances from Mexican workers abroad and of U.S. non-farm payrolls.
Source: Mexico Central Bank (Banxico) and U.S. Bureau of Labor.


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