Mexico Remittances April 2022

Mexico

Mexico: Remittances growth rises in April

June 1, 2022

Remittances totaled USD 4.7 billion in April, representing a 16.5% year-on-year jump, on the heels of March's 12.9% year-on-year increase.

On a cumulative 12-month basis up to April, remittances summed USD 54.2 billion, down from the USD 53.0 billion registered in March. April’s 12-month moving average signaled a 26.1% rise from a year earlier (March: +27.9% year-on-year). The strong U.S. labor market—which has in recent months added more jobs than expected despite surging inflation—continues to buoy remittances inflows.

Analysts project remittances to rise to USD 56.6 billion in 2022. For 2023, the panel sees remittances at USD 57.3 billion.


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Mexico Remittances Chart


Mexico Remittances April 2022 0

Note: Year-on-year variation of remittances from Mexican workers abroad and of U.S. non-farm payrolls.
Source: Banco de México (Banxico) and the U.S. Bureau of Labor Statistics.


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