Searcher
Searcher
See main menu

Published on Thursday, October 1, 2020 | Updated on Saturday, October 10, 2020

Mexico | Remittances to Mexico and Latin America continue to grow despite Covid-19

Summary

Immersed in the Covid-19 pandemic, in August remittances to Latin America and the Caribbean continued to increase: Mexico (+5.3% at an annual rate), Dominican Republic (+22.5%), El Salvador (+18.7%) , Guatemala (+7.1%), and Colombia (+0.3%).

Key points

  • Key points:
  • Remittances sent to Mexico reached four consecutive months with growth amid the Covid-19 pandemic. They reach 3,574 million US dollars with a growth of +5.3%.
  • During the month of August, various countries in Latin America and the Caribbean presented a growth in remittances: the Dominican Republic increased +22.5% at an annual rate, El Salvador +18.7%, Guatemala +7.1%, and Colombia +0.3%.
  • Unemployment rate low in the US at 8.4%, but 11.5 million jobs lost due to the pandemic still have to be recovered, of which 2.6 million were of Hispanic or Latino origin.

Geographies

Topics

Documents and files

Report (PDF)

20201001_Remesas_Mexico.pdf

Spanish - October 1, 2020

Report (PDF)

20201001_Remittances_Mexico.pdf

English - October 1, 2020

Authors

JL
Juan José Li Ng BBVA Research - Senior Economist
New comment

Be the first to add a comment.

You may also be interested in