The annual total of remittances sent back to families in Mexico by migrant workers in the USA increased year-on-year to 22.731 billion dollars in 2011, and looks set to rise again this year.
Mexico’s central bank (the Bank of Mexico) recently released figures showing that remittances to Mexico increased in April 2012 by more than 8% compared to the same month a year earlier, bringing the cumulative total for the first four months of this year to 7.4 billion dollars, 6% higher than in the same period in 2011.
These increases in remittance flows come despite increasing evidence that the net flow of migrants leaving Mexico to work in the USA has come to a standstill: Net migration flow from Mexico to the USA falls close to zero or has possibly reversed.
For more detail about remittances in Mexico, see:
- The typical remittance, the last mile, and the effects of remittances on recipient communities
- What factors influence the decision about how to send remittances home?
- International financial flows: how do Mexican migrants send remittances back home?
- Mexican migrants and remittances: an introduction
- Mapping remittance flows to Mexico, a practical exercise