Mexico | From 320 to 380 million dollars of additional remittances due to "Mother's Day"

Summary

Remittances to Mexico are unstoppable, despite the difficult economic conditions due to the Covid-19 crisis, 3,379 million USD reached Mexico, + 3.0% compared to the same month last year. In real terms, due to the exchange rate depreciation, they grew 23.8%.

Key points

• Key points:
• Despite the difficult economic conditions of the COVID-19 crisis, remittances to Mexico show no sign of stopping. Mexico received USD 3,379 million last month, a year-on-year increase of 3%.
• In real terms, taking currency depreciation into account, they grew by 23.8%.
• In May, it is estimated that Mothers' Day triggers an additional 1.0 to 1.2 million remittance transactions to Mexico from the US on average. This equates to between USD 320 and 380 million.
• Remittances to Mexico during the first five months of 2020 totaled USD 15,538 million, representing year-on-year growth of 10.4%.

Geographies

Topics

Tags