Mexico | Remittances accumulated 21 months to the rise, increased 19.6% in January

Summary

The surprising growth of remittances to Mexico during 2020 and 2021 is not particular to the country, but is common among many LAC countries. In 2021, remittances to Guatemala increased 34.9%, higher than the increase in Mexico (+27.1%), El Salvador (+26.8%), Dominican Rep. (+26.6%), Colombia (24.4%) and Jamaica (20.4%).

Key points

• Key points:
• During the month of January 2022, remittances to Mexico increased by 19.6% at the annual rate, reaching an amount of 3,931 million US dollars.
• Between January 2021 and 2022, the Latino or Hispanic population in the US increased their jobs by 9.2%, while the national average was +4.8%.
• The surprising growth of remittances to Mexico during 2020 and 2021 is not particular to the country, but is common among many countries in Latin America and the Caribbean, which also have a significant volume of migrant population working in the US.
• During the year 2021, remittances to Guatemala increased by 34.9%, higher than the increase registered by Mexico in that year, which was 27.1%.
• Other countries in the region that had growth rates above 20% per year in 2021 were: El Salvador (+26.8%), the Dominican Republic (+26.6%), Colombia (24.4%) and Jamaica (20.4%).

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