Mexico | Remittances in June reach a historic high, 6,213 million dollars in a month

Summary

The depreciation of the Mexican peso (MXN) against the dollar (USD) of 7.6% in June may partly explain this observed increase in remittances. Mexicans abroad take advantage of this temporary rise to send more dollars, which translates into more pesos for their relatives.

Key points

• Key points:
• In June, 6,213 million dollars arrived in Mexico through remittances, increasing by 11.3%. It is the largest increase recorded since January 2023, and they reach a new record.
• Voting from abroad by Mexicans grew by 87% in the 2024 federal elections. 184,326 votes were registered from abroad for president in 2024 vs. 98,470 in 2018.
• Voting by internet is the most preferred method among the Mexican diaspora (66.5%), followed by postal voting (21.5%) and, finally, in-person voting (12.1%).
• Mexico City, Jalisco, the State of Mexico, Puebla, Michoacán and Guanajuato were the main federal entities for the registration of Mexicans abroad who cast their vote in 2024. The 6 entities account for more than 57% of the votes in the last electoral elections.

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