Remittances have accumulated a 30-month consecutive upward streak, since May 2020. Despite their dynamism, the inflation in basic basket products (+8.4% in October 2022) and the strength of the Mexican Peso against the US dollar have stagnated the growth of remittances in real terms.
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Remittances add up to a streak of 29 consecutive months of growth, which began in May 2020. Latinos constitute up to 34.3 million voters in the US, 14.0% of the voter registry in the elections on November 8, surpassing the self-identified population as only African American, Asian, and Native American.
So far in 2022, remittances to Mexico show a lower performance in relative terms compared to other countries in the Latin American and Caribbean region such as Guatemala (+20.8%), Honduras (+20.6%), Nicaragua (+ 38.4%) and Brazil (+25.4%).
Remittances accumulate three consecutive months marking a historical record. Despite the contraction of GDP in the US, the unemployment rate is at very low levels, which have only been lower for more than 50 years.
In the first half, remittances to Chiapas grew more than 70% and surpasses Puebla and Veracruz. In Michoacán, remittances (4,056 million dollars) represented 105.4% of the total amount of state income (3,849 million dollars) in 2020.
May is the month that more remittances are generally received, for Mother's Day, 17% more resources are received than other months of the year. The US Supreme Court of Justice determined that President Biden can end the Migrant Protection Protocols (MPP), known as “Remain in Mexico”.
June 1, 2022
Mexico | Remittances grew 16.5%, but due to inflation, households received only 8.2% more
Inflation has also hit the remittances-receiving households in Mexico, although they grew 16.5% in US dollars in April, they increased 8.2% in real terms. Something similar happened in March, the flow of remittances in US dollars increased 12.9%, but in real terms they advanced 4.1%.
Judge blocks the end of Title 42 in the U.S., for 2 years 88.2% of the arrests of Mexican migrants concluded in immediate expulsion. In March 2022, arrests of migrants in the U.S., and also of Mexican migrants, are at their maximum: 221,303 in …
At the beginning of the pandemic, the jobs of Mexican migrants in the US contracted by 20%, but they are already 3.2% above pre-pandemic levels. However, the labor participation rate is at 66%, lower than pre-pandemic levels (68%); and the unem…
The surprising growth of remittances to Mexico during 2020 and 2021 is not particular to the country, but is common among many LAC countries. In 2021, remittances to Guatemala increased 34.9%, higher than the increase in Mexico (+27.1%), El Sal…
Remittances totaled 51,594 million USD throughout 2021, +27.1% compared to 2020, and have accumulated a streak of 8 consecutive years of growth, which began in 2014. Between 2020 and 2021, during these first two years of the COVID-19 pandemic, remittances have grown 41.6% compared to 2019.
January 3, 2022
Mexico | Does 1 in 5 pesos of remittances come from Mexicans in the construction sector?
In November, remittances to Mexico grew 37.7%. In 2021, the Mexican migrants in the United States grew to 11.9 million, 1 in 5 are employed in the construction sector. Several countries in Latin America and the Caribbean have also reported significant increases in their income from remittances.