Mexico | Remittances drop 16.2%, their largest decline in 13 years

Summary

Since recovering in 2014, the flow of remittances to Mexico has experienced a streak of 11 consecutive years of growth, which will most likely end in 2025. Between 2013 and 2024, remittances increased in nominal terms from $23 billion to $64.7 billion; that is, they almost tripled.

Key points

• Key points:
• Mexico received $5,201 million in remittances in June, representing a 16.2% decline compared to the same month the previous year. This is the largest drop in remittances since September 2012, almost 13 years ago.
• In June, just over 12.7 million remittances transactions to Mexico were recorded, 14.3% fewer than in June 2024. The drop in the number of transactions between April and June 2025 could indicate that fewer people in the United States are sending money to Mexico.
• Recent U.S. government immigration actions and policies are only marginally affecting the decline in remittances to Mexico, which have shown signs of uncertainty over the past 20 months, a trend that began to be observed in November 2023.
• During the first half of 2025, 99.0% of remittances sent to Mexico were made through electronic transfers, 79.5% were channeled through non-bank institutions, and 51.1% were collected in cash. With this information, it is not possible to determine what proportion of remittances would be subject to the new 1% tax imposed by the United States.

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