In February, remittances to Mexico and several countries in LAC grew at double digits

Summary

Remittances to several countries in Latin America and the Caribbean grew at double digits during the month of February 2021: Mexico (+ 16.2% in USD), Guatemala (+ 16.7%), El Salvador (+ 13.0%), Dominican Republic (+ 27.6%) and Colombia (15.4%).

Key points

• Key points:
• Remittances to several countries in Latin America and the Caribbean grew at double digits during the month of February 2021: Mexico (+ 16.2% in USD), Guatemala (+ 16.7%), El Salvador (+ 13.0%), Dominican Republic (+ 27.6%) and Colombia (15.4%).
• In Mexico, remittances accumulated 6 consecutive months with double-digit growth, since September 2020. During the first two months of 2021, remittances averaged an increase of 21.0%.
• In the United States, the main country of origin of remittances to Mexico and Latin America and the Caribbean, the unemployment rate was 6.2% in February, during the month of April 2020 it reached 14.8%. Thus, the unemployment rate is at the levels observed in mid-2014.

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