Mexico: Remittances growth retreats in April
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).