Mexico | Remittances total 30.2 billion USD during the first half, +9.9% at an annual rate

Summary

Chiapas registers an annual growth in remittances of more than 50% and is already the fourth state with the highest income from these resources. San Cristobal de las Casas is already the municipality where most remittances are received in the country.

Key points

• Key points:
• Remittances to Mexico during the month of June totaled 5,572 million dollars (md), +8.3% at the annual rate. In the first six months of the year, they have accumulated a flow of 30,238 million dollars, which is equivalent to an increase of 9.9% compared to the same period in 2022.
• Remittances achieve a streak of 38 consecutive months of growth, which began in May 2020, averaging an annual increase of 16.9%.
• The appreciation of the peso against the US dollar and inflation have reduced remittances to Mexican households. In real terms, the remittances received in June were 15.1% below the maximum amount of purchasing power that they have achieved in July 2022.
• Guanajuato (2,613 md) surpasses Michoacán (2,601 md) in the reception of remittances, and it is possible that it will displace Jalisco (2,648 md) from first place, if the current dynamics continue.

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