Mexico | Record in remittances: 64,745 million dollars in 2024, and dark spots for 2025

Summary

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.

Key points

• Key points:
• In 2024, 13.7 million transactions were recorded for sending remittances, with an average remittance of 393 dollars. 99.1% of remittances to Mexico arrived by electronic transfer and only 0.7% in cash and in kind.
• The United States sent 62,529 million dollars in remittances to Mexico in 2024, 96.6% of the total received by the country. 47% of remittances from the United States to Mexico are sent from California and Texas.
• Remittances have accumulated 14 months with high volatility, falls or low growth. There are dark spots in their performance for 2025, without considering the possible effects of the anti-immigrant policy in the United States that the current administration of President Trump may cause.
• In December 2024, 5,228 million dollars were received in remittances, which is equivalent to a 4.9% drop at an annual rate. Remittances had not reported a drop of such magnitude since May 2013, that is, more than 11 years ago.

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