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Mexico | Mothers’ Day effect increases remittances in May to US$2,586.4 million

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The increase in remittances is partly explained by Mexicans sending money from the United States during May for the Mothers’ Day festivities, and the low unemployment rate in the United States (4.3% in May)

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Geographies:Mexico
Topics:Migration

In May, Mexico received US$2,586.4 million in remittances, 4.5% more than in May of last year and slightly more than the figure estimated by BBVA Research (US$2,575 million) and than the market consensus (US$2,550 million)

This amount is the highest ever May figure for receipts of remittances and the second highest ever for a single month, surpassed only by the US$2,638 million received in October 2008

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