Mexico Remittances January 2019


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).

FocusEconomics panelists expect remittances to remain upbeat this year, reaching USD 34.9 billion by the end of 2019. For 2020, the panel sees remittances at USD 35.5 billion by year-end.


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Mexico Remittances Chart

Mexico Remittances January 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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