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Amid a proposal to create a special tax in the United States on remittances sent abroad, the Bank of Mexico announced the amount of remittances sent to Mexico in April 2025, which was $4,761.2 million.

The proposed 3.5% tax on remittances in the United States would increase the cost of sending 350 dollars from 5 to 17.25 dollars, representing an increase of nearly 250%. This sharp increase could spur the growth of multiple informal and unregulated channels for sending remittances.

Over the past five years, from December 2019 to March 2025, the employed population in the United States grew by 4.7 million, of which 92.4% (4.3 million) were of Hispanic or Latino origin, reflecting the great importance of this population in the current economy of that country.

In February 2025, 4,459 million in family remittances arrived in Mexico. Remittances have accumulated a 16-month streak of uncertainty since November 2023, with seven months of contractions, interspersed with months of low growth and other months with increases greater than 8% at an annual rate.

Mexico received 64,745 million dollars (md) in remittances in 2024, +2.3% compared to 2023 when 63,319 md were received. Remittances reach a new historical maximum in 2024 and accumulate a streak of 11 consecutive years of growth, which began in 2014.

Remittances sent by Latin Americans from abroad are becoming more significant, accounting for 2.3% of the GDP of Latin America and the Caribbean. In 2024, these flows reached $160.9 billion, increasing $7.7 billion compared to 2023. Remittances affect the well-being of their recipients and reflect migration dynamics.

President-elect Trump has threatened mass deportations and greater border securitization, which could affect remittances to Mexico and LAC. However, it is a very unlikely scenario because it would affect the U.S. economy that depends on migrant labor force and increase inflation in that country.

Book product of a collaboration between the National Population Council (CONAPO), BBVA Foundation and BBVA Research. This twelfth edition presents in ten chapters the main data and indicators on migration, human mobility and remittances on a regional and global scale, with emphasis on Mexico.