Mexico Remittances June 2021

Mexico

Mexico: Remittances rise at a rapid pace in June

August 3, 2021

Remittances reached USD 4.4 billion in June, representing a 25.5% year-on-year increase. This follows May's 31.0% year-on-year rise. On a 12-month rolling basis in June, remittances totaled USD 44.9 billion, above the USD 44.0 billion recorded in May. June’s 12-month rolling total represented a 17.4% rise from a year earlier (May: +16.0% year-on-year).

Analysts project remittances to rise to USD 44.7 billion in 2021, spurred by fiscal stimulus and falling unemployment in the U.S. For 2022, the panel sees remittances at USD 46.4 billion.


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Mexico Remittances June 2021 1

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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