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January 2, 2024
Mexico's dependence on remittances reached a maximum of 4.0% of GDP in 2022. It is estimated that remittances would represent 3.5% of GDP in 2023 and by 2024 they will reach 3.7%. The appreciation of the Mexican peso (MXN) against the US dollar (USD) has relatively reduced Mexico's dependence on these resources.
We estimate that about 10% of the increase in transactions to send remittances in May is explained by the effect of "Mother's Day." The remittance that is sent to the mothers is, in general, less in amount than the remittance that is sent regularly.
In November 2020, 3,381 million dollars entered by remittances (+ 15.6%). The U.S. economic stimulus that have also benefited Mexicans, the sending of remittances from cross-border workers and commuters, and the appreciation of the dollar again…
The global commodity boom in the last decade is largely explained by China’s hunger for raw materials. This paper explores to what extent South America has become “Sinodependent” and its implications.
