The Bank of Mexico (Banxico) announced that income from remittances from abroad stood at $5, 99 million dollars in August 2022, which implied an annual growth of 7.9%.
For their part, remittances sent abroad by residents of Mexico showed an annual decrease of 4.9%, settling in $89 million dollars.
With these results, in August 2022 the surplus of the remittance account of Mexico with the rest of the world was $5 .0032 million dollars, greater than $4,655 million dollars registered in the same month of 2021.
According to Banxico, in August 2022, income and expenses from remittances presented monthly reductions of 5.8% and 2.2%, respectively. Thus, the remittance account surplus stood at $4,668 million dollars, less than the $4,959 million dollars observed in the previous July.
Regarding the figures accumulated in the period January – August 2022, the value of income from remittances was $15,934 million dollars, amount greater than $32,959 million dollars reported in the same period of 2021 and which meant an annual advance of 15.2%. .
Banxico indicates that during the first 8 months of 2022, the 99.0% of the total income from remittances was made through electronic transfers, which were located in $32,552 millions of dollars. On the other hand, remittances made in cash and kind and money orders represented 0.7 and 0.3% of the total amount, respectively, when they amounted to $131 and $115 million dollars, in the same order.
Banxico announced that in the last twelve months (September 2021 to August 2021), the accumulated flow of income from remittances reached $56,655 million dollars, greater than the twelve-month accumulated flow registered in the previous July of $58,206 million dollars (August 2021 to July 2022).
Regarding remittances sent abroad, the flow accumulated in the last twelve months (September 2021 to August 2021 ) resulted in $1,126 million dollars, which is compared to the flow of $1,131 millions of dollars last July (August 2021 to July 2022).
In this way, the surplus of the remittance account for the last twelve months (September 2021 to August 2022) registered a level of $55,552 million dollars, higher than that reported in the previous July of $55,89 million dollars (August 2021 to July 2022).
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