Remittances to Mexico Down in 2010

The monetary remittances sent from Mexican national’s working in the U.S. is down again announced the country’s central bank.  For the first quarter in 2010 remittances totaled $4.8billion which represents a decline of 12% compared to same time last year when remittances totaled $5.5billion.  The global recession and lack of employment in the U.S. is blamed for the decline, though the Mexican Central bank acknowledged the rate of decline is diminishing.  After oil exports to foreign countries, remittance are the country’s second largest source of foreign income. 

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