Remittances on the rise

 Mexico's geography in the Press
May 282015
 

Remittances sent home by Mexican migrants (almost all of them residing in the USA) rose to $2.26 billion in March 2015, 7.6% higher than the same month a year earlier. This was the highest monthly figure since May 2012, and the highest ever figure for March.

The average remittance sent to Mexico in March 2015 was $311.30, the highest figure since July 2012, and the number of transfers was 7.25 million.

The March figure brought the total remittances for the first quarter of this year to $5.7 billion, 4.9% higher than the same period in 2014.

Workers in California sent remittances worth $1.59 billion home during the first three months of this year, more than the workers in any other state. Texas came in second place with $763.9 million and Illinois placed third at $199.3 million.

The three main receiving states in Mexico were:

  • Michoacán – $603 million
  • Jalisco – $539 million
  • Guanajuato – $509 million

For an introduction to the topic of remittances, with links to some of the key posts on this blog, see

A comprehensive index page listing all the posts oon Geo-Mexico related to migration and remittances can be found at Migration and remittances: an index page.

  2 Responses to “Remittances on the rise”

  1. deborah says:
    January 10, 2016 at 4:23 pm

    Where can I find more info about the origin of remittances, in other words, where did you find your info for: “Workers in California sent remittances worth $1.59 billion home during the first three months of this year, more than the workers in any other state. Texas came in second place with $763.9 million and Illinois placed third at $199.3 million.”

    Thanks,

    -Deborah

  2. TB says:
    January 11, 2016 at 8:27 am

    Deboarah, Good question. The state level data actually came from a (Mexican) financial daily, but must be based on data from the Central Bank (Banco de Mexico). The Central Bank publishes monthly figures for total remittances, and remittances by channel (money-order / electronic transfers etc): http://www.banxico.org.mx/SieInternet/consultarDirectorioInternetAction.do?accion=consultarCuadro&idCuadro=CE81&sector=1&locale=es and then hit “html” near top left
    They also have state figures (for quarters) at http://www.banxico.org.mx/SieInternet/consultarDirectorioInternetAction.do?accion=consultarCuadro&idCuadro=CE100&sector=1&locale=es
    Hope this helps.

Sorry, the comment form is closed at this time.