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Latin America Business News

Remittances to Mexico Experience Biggest One Month Jump Since 2006

Remittances to Mexico Experience Biggest One Month Jump Since 2006

Photo: Remittances to Mexico Up, 2011

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In October, Mexico received more than $2 billion, which was substantially higher than the month before.

Mexico remittances rose 21.2 percent from September to October, making it the biggest one-month jump since 2006. About $2.8 billion was sent to Mexico in October. 

Economists say that it is unlikely that coming months will see such high numbers, and said it will be difficult to repeat the growth rate. Individual remittances rose 9 percent in September, with the median amount of those payments rising roughly 12 percent from the month before, to just under $350.

Remittances to Mexico from Mexican nationals living and working outside of the country is the second source of revenue for the country after oil exportation. 

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