June 1, 2020
Remittances latest publications
Despite the fact that the unemployment rate increased from 4.4% to 14.7% between March and April in the U.S., the flow of this resource to Mexico had a decrease of only 2.6% during April, with an amount of 2,861 USD. Remittances to Guatemala decreased 20.2%, while in El Salvador they fell 40.0% in this period.
May 4, 2020
Mexico | Record amount of remittances in a single month:USD 4,016 million in March (35.8%)
Immersed in the global crisis by Covid-19, remittances to Mexico reached a record of 4,016 million dollars in March. This is equivalent to a 35.8% growth, an increase not seen for 16 years. The sudden increase is partly explained by the strong appreciation of the US dollar against the peso, which increased by 25%.
April 1, 2020
Remittances to Mexico could fall 17% in 2020 and recover between 2023-2028 due to Covid-19
Due to the uncertainty regarding its duration, it is difficult to estimate the impacts of the Covid-19 crisis on the flow of remittances to Mexico. This article makes an estimate based on the effects of the past global financial recession of 2008/2009 on remittance flows. Three scenarios are presented.
For the fourth consecutive year, remittances exceeded their historical maximum. 94.6% of remittances come from the US. Michoacán (3,584 md), Jalisco (3,499 md) and Guanajuato (3,286 md) were the main recipients of remittances in 2019. Remittances could grow 6.0% and reach 38.2 billion dollars in 2020.
There are 272 million migrants in the world in 2019, 23.0% more than in 2010. Mexico is the 2nd country with more migrants in the world. In 2019 there are 12.4 million Mexican migrants in the U.S. Remittances to Mexico will exceed 36 billion dollars in 2019, which will be ranked 3rd in the world, displacing Philippines.
The infographic contains information on the countries of South America, where it is highlighted that, in 2018, the region received 18.5 billion USD on remittances and, in 2017, there were 12.0 million emigrants.
The infographic contains information on the countries of the Greater Antilles and the Lesser Antilles in the Caribbean, where it is highlighted that, in 2018, the region received 12.7 billion USD for remittances and, in 2017, there were 8.2 million emigrants.
Remittances accumulate an annual growth of 9.2% in the first 9 months of 2019, with an amount of 26,980 million USD. In September, unemployment rate in the US was 3.5%, the lowest rate observed in the last 50 years, since 1969. This condition drives the sending of remittances to Mexico.