Mexico: Remittances pick up at 2020 outset
Remittances totaled USD 2.6 billion in the first month of the year (December 2019: USD 3.1 billion), representing a 5.2% increase from the same month in 2019 and following the 3.0% rise logged in December 2019. January’s quickening came despite a mild slowdown in U.S. non-farm payrolls growth. Meanwhile, the average amount remitted fell to USD 321 from USD 326 a month prior.
In the 12 months up to January, remittances totaled a record-high USD 36.2 billion, above the USD 36.0 billion recorded in the 12 months up to December. January’s 12-month rolling total marked a 6.8% increase from a year earlier (December 2019: +7.0% year-on-year).