Publications

In October 2025, remittances increased 24.0% to Honduras, 19.5% to Guatemala, 16.3% to El Salvador, and 5.4% to Colombia; while in September they grew 11.9% to the Dominican Republic.

In the last 5 years, the effect of “Mother's Day” drove the arrival of 6.5% more remittances in the month of May, compared to the trend marked by the adjacent months of April and June. In 2024, this translates into an amount close to 364 million more dollars in remittances.

Despite the increase in remittances in dollars, households in Mexico received 9.7% fewer resources in real terms in April, explained by: 1) the appreciation of the peso against the US dollar of 9.8% between April 2022 and April 2023, and 2) an inflation of 6.3% in the same period.

Banco del Bienestar leaves the remittance market. The gradual loss in its market share could partly explain this decision: in 2018 it was 4.1%, and in 2022 it was 2.4%. Households in rural and semi-rural areas may be the most affected, since they will spend more on transfers to collect them in other municipalities.

Mexico consolidates as the second country that receives the most remittances, it will surpass China by more than 7 billion dollars, which is in third position in 2022. Despite the adverse economic conditions, the World Bank forecasts that world remittances will increase 2.7 % in 2023.

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.

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 Salvador (+26.8%), Dominican Rep. (+26.6%), Colombia (24.4%) and Jamaica (20.4%).