Mexico: Remittances heat up in January
March 1, 2019
Remittances totaled USD 2.4 billion in January (December 2018: USD 2.9 billion), a 6.5% increase from the same month a year earlier (December 2018: +6.1% year-on-year). The average amount remitted rose to USD 313 from USD 307 a year prior.
Taking a longer-held view, inflows have been rising broadly in line with non-farm U.S. employment gains. Moreover, remittances registered an all-time high of USD 33.6 billion in the twelve months up to January, up from USD 33.5 billion in the 12 months through 2018. January’s 12-month rolling figure increased 10.5% from a year earlier (December 2018: +10.5% year-on-year).
Author: Christopher Thomas, Economist