Mexico | Remittances achieve a record of 58,497md, doubled their amount in just 6 years

Summary

98.9% of the remittances arrived in Mexico through electronic transfers, 95.5% came from the United States and 82.3% were paid in non-banking institutions. Jalisco, Michoacán and Guanajuato were the states that received the most remittances, each exceeding 5 billion dollars in 2022.

Key points

• Key points:
• In December, Mexico received 5,349 million US dollars (md) in remittances (+12.8% annual), with which they have accumulated 32 consecutive months of growth.
• In total, Mexico received 58,497 million dollars in remittances during 2022, which is equivalent to an increase of 13.4% compared to 2021 and doubles what was received in 2016, 6 years ago.
• 98.9% of the remittances arrived in Mexico through electronic transfers, 95.5% came from the United States and 82.3% were paid in non-banking institutions.
• Jalisco, Michoacán and Guanajuato were the states that received the most remittances, each exceeding 5 billion dollars in 2022, which is equivalent to almost 100 billion pesos.
• Tijuana (753 million dollars), Guadalajara (631 million dollars) and Morelia (597 million dollars) were the municipalities that received the most remittances in 2022.

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