Mexico | Is the arrival of remittances slowing down?
Published on Monday, April 1, 2024 | Updated on Tuesday, April 2, 2024
Mexico | Is the arrival of remittances slowing down?
In November 2023, remittances to Mexico had an increase of 1.2%, for the month of December it was 2.2%, during the first month of 2024 they increased by 3.1%, and the last data, which corresponds to the month of February, was of 3.7%. Thus, in the last 4 months they have averaged increases of 2.6% at an annual rate.
Key points
- Key points:
- Remittances to Mexico grew 3.7% in February 2024, following a streak of 46 uninterrupted months with annual increases.
- Due to the appreciation of the peso and the inflationary factor, in real terms, households in Mexico received 8.8% less money than 12 months ago.
- Between November 2023 and February 2024, remittances to Mexico have had very low increases (from 1.2% to 3.7%). In these last 4 months they have averaged increases of 2.6% at an annual rate.
- There is no decrease in undocumented Mexican migration to the US: between February 2021 and February 2024, there are an average of nearly 63,000 monthly encounters between expulsions, apprehensions and non-admissions of people of Mexican origin.