Mexico Remittances December 2019

Mexico

Mexico: Remittances return to growth in final month of 2019

February 4, 2020

Remittances totaled USD 3.1 billion in the final month of 2019 (November: USD 2.9 billion), a 3.1% increase from the same month in 2018 and contrasting the 2.3% decline logged in November, which was the first in over three years. December’s rebound came despite a mild slowdown in U.S. non-farm payrolls growth. Meanwhile, the average amount remitted edged down to USD 326 from USD 328 a month prior.

In the 12 months up to December, remittances totaled a record-high USD 36.0 billion, matching the figure recorded in the 12 months up to November. December’s 12-month rolling total marked a 7.0% increase from a year earlier (November 2019: +7.5% yoy).

FocusEconomics panelists expect remittances to remain upbeat this year, reaching USD 36.3 billion by end-2020. For 2021, the panel sees remittances at USD 37.8 billion by year-end.


Author:, Economist

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Mexico Remittances Chart


Mexico Remittances December 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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