Mexico | Remittances rise 4.9%, their best performance in 16 months

Summary

Michoacan and Guanajuato remain tied as the main recipient states, with USD 1,249 million each in Q1 2026. The main U.S. states of residence of Mexican migrants increased their remittance outflows: California (+6.2%) and Texas (+2.0%).

Key points

• Key points:
• In March, USD 5,394 million in family remittances were received in Mexico, up 4.9% year-on-year, marking the largest increase since December 2024.
• In the first quarter of 2026, remittance inflows to Mexico totaled USD 14,457 million, a 1.4% increase compared to the same period of the previous year.
• However, part of the rebound in remittances may be linked to the depreciation of the peso (2.7% in March), associated with the conflict between the United States and Iran, rather than to fundamental factors such as employment or income of Mexican migrants.
• More than a year after the start of President Trump’s second administration, no clear regional effects on remittance receipts in Mexico are observed. Michoacan and Guanajuato remain tied as the main recipient states, with USD 1,249 million each in Q1 2026.
• The main U.S. states of residence of Mexican migrants increased their remittance outflows to Mexico during Q1 2026: California (+6.2%) and Texas (+2.0%).

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