Mexico | Remittances recorded second consecutive month with more than 5 billion dollars

Summary

In the first half, remittances to Chiapas grew more than 70% and surpasses Puebla and Veracruz. In Michoacán, remittances (4,056 million dollars) represented 105.4% of the total amount of state income (3,849 million dollars) in 2020.

Key points

• Key points:
• In June, 5,153 million dollars entered Mexico through family remittances (+15.6%), but mainly due to the inflationary factor, remittances to households in Mexico increased by only +6.7%.
• In the first half of the year, the rapid growth of remittances to Chiapas stands out (+70.0% at the annual rate), mainly to the municipalities of San Cristóbal de las Casas, Comitán de Domínguez and Tapachula. Thus, it surpasses states with a greater migratory history such as Puebla and Veracruz.
• In Michoacán, state public revenue amounted to 3,849 million dollars in 2020 and they received 4,056 million dollars in remittances in that year. Remittances represented 105.4% of the total amount of their state income.
• The states where remittances represented the largest proportion of their state public income were: Michoacán (105.4%), Guanajuato (80.5%), Zacatecas (78.0%) and Jalisco (68.0%).
• Quintana Roo (9.4%), Tabasco (10.2%), Campeche (10.4%) and Yucatán (12.2%) were the states in which remittances represented a lower proportion of state public revenue.

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