Mexico | Is the arrival of remittances slowing down?

Summary

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.

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