Mexico Remittances July 2019

Mexico

Mexico: Remittances increase at fastest pace in eight months in July

September 2, 2019

Remittances totaled USD 3.3 billion in July (June: USD 3.2 billion), a 14.4% jump from the same month a year ago (June: +1.4% year-on-year). July’s increase marked the strongest climb in eight months despite slowing U.S. non-farm payrolls growth. In addition, the average amount remitted edged up to USD 340 from USD 335 a month prior.

In the 12 months up to July, remittances totaled a record-high USD 35.1 billion, above the USD 34.7 billion recorded in the 12 months up to June. July’s 12-month rolling total marked an 8.9% increase from a year earlier (June: +8.5% 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 35.9 billion by year-end.


Author:, Economist

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Mexico Remittances Chart


Mexico Remittances July 2019

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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