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).
Author: Christopher Thomas, Economist