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Latino Daily News

Friday August 5, 2011

Remittances to Mexico from Migrants for First Six Months of 2011 Were Up by 4.7%, Totaling $11.16B

Remittances to Mexico from Migrants for First Six Months of 2011 Were Up by 4.7%, Totaling $11.16B

Photo: Remittances to U.S. from Mexico Up

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Mexican nationals living and working outside of Mexico sent remittances totaling $11.16 Billion for the first six months of the year.  This amount is a 4.7% increase from the same time last year.

In total 34.2 million remittance transactions were recorded with the average remittance at $326.51 vs $317 for the first half of last year.

The northern states of Mexico like Sonora and San Luis Potosi saw the largest increase in remittances in 2011.  June of 2011 marked the ninth consecutive month that remittances increased.  Remittances to Mexico from Mexican nationals living in the U.S or in other countries is the second source of revenue for the country after oil exportation.