Mexico | Remittances represent 13.9% of state GDP in Guerrero and Chiapas

Summary

Remittances to Mexico began 2026 with decline. In January, they totaled 4,594 million dollars, representing a 1.4% year-on-year decrease. Although the average amount per transfer increased to $401 (+3.9%), the number of transactions fell to 11.5 million, a 5.2% year-on-year decrease.

Key points

• Key points:
• Remittances returned to negative territory. After the increase recorded in December, 4,594 million dollars in family remittances entered Mexico in January 2026, representing a 1.4% contraction.
• In 9 of the last 10 months, remittances have registered declines. The increase in December 2025 may have been unusual, possibly explained by the advance transfer of these funds to avoid paying the new excite tax on cash remittances.
• Mexico reached its highest level of dependence on remittances between 2021 and 2022, when the remittances-to-GDP ratio was 4.0%. By 2025, a reduction in dependence on remittances is observed, with remittances representing 3.4% of national GDP.
• Guerrero and Chiapas were the states most dependent on remittances in 2025, as these flows represented 13.9% of their state GDP. They were followed by Oaxaca, Michoacán, and Zacatecas, with proportions of 10.7%, 10.5%, and 9.9%, respectively.

Geographies

Topics

Tags