Mexico | Remittances reached historical record in 2019: 36,049 million dollars

Summary

For the fourth consecutive year, remittances exceeded their historical maximum. 94.6% of remittances come from the US. Michoacán (3,584 md), Jalisco (3,499 md) and Guanajuato (3,286 md) were the main recipients of remittances in 2019. Remittances could grow 6.0% and reach 38.2 billion dollars in 2020.

Key points

• Key points:
• For the fourth consecutive year, remittances exceeded their historical maximum.
• 94.6% of remittances come from the United States, 98.5% are sent by electronic transfers and 74.9% are paid in non-banks.
• Michoacán (3,584 md), Jalisco (3,499 md) and Guanajuato (3,286 md) were the main recipients of remittances in 2019.
• Tijuana, Puebla, Morelia and Guadalajara were the municipalities that received the most remittances in 2019.
• The outflow of remittances from Mexico decreased 1.9%.

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