Mexico Remittances November 2018


Mexico: Remittances jump in November

January 3, 2019

Remittances totaled USD 2.9 billion in November (October: USD 2.9 billion), a 20.2% increase from the same month a year earlier. The result came in way ahead of October’s 3.4% rise and marked the fastest growth in about half a year. Moreover, the average amount remitted jumped to USD 343 from USD 310 a year prior.

Inflows rose in line with upbeat non-farm U.S. employment gains. Remittances registered an all-time high of USD 33.3 billion in the 12 months up to November, up from the USD 32.8 billion sum recorded in the 12 months up to October. November’s 12-month rolling figure increased 11.4% annually (October: +10.0% year-on-year).

FocusEconomics panelists expect remittances to remain upbeat this year, reaching USD 32.6 billion by the end of 2019. For 2020, the panel sees remittances at USD 33.1 billion by year-end.


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Mexico Remittances Chart

Mexico Remittances November 2018

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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